PROCEDURE: Tracts 1 thru 5 will be offered in individual tracts, in any combination of these 5 tracts, or as a total unit. There will be open bidding on all tracts and combinations during the auction as determined by the auctioneer. Bids on tract, tract combinations, and total property may compete. The property will be sold in the manner resulting in the highest total sale price.

DOWN PAYMENT: 10% of the Contract Purchase Price as down payment on the day of auction with the balance in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

APPROVAL OF BID PRICES: The successful bidder(s) will be required to enter into a Purchase Agreement at the auction site immediately following the close of the auction. All auction bids are subject to acceptance or rejection by the Seller.

DEED: Seller will convey by Warranty Deed.

EVIDENCE OF TITLE: The Seller agrees to furnish at Seller's expense a Title Insurance Policy. A preliminary commitment will be available for review prior to the auction.

CLOSING: The closing shall take place 30 days after the auction day, or as soon thereafter as applicable closing documents are completed by Seller.

POSSESSION: Possession is at closing. Immediate possession for farming purposes is available with additional down payment. Call Auction Company for details.

MINERAL RIGHTS: Seller shall retain ownership of their mineral right interest through December 31, 2029 at which time sellers mineral right interest shall be conveyed to the surface owner.

TILLABLE ACRES: Tillable acres have been estimated from maps provided by the FSA office in Sullivan County, Indiana.

GRAIN BINS: The grain bins are currently under a lease agreement. Buyer shall receive possession of the grain bins August 1, 2014.

EASEMENTS ACCESS: In the event the real estate sells in such a fashion that easement access is required (due to multiple owners) an easement 60' in width (30' from each side of a centerline of the existing private farm road) shall be created. The easement is illustrated by the blue line on the aerial tract map. The easement will be for ingress, egress, drainage maintenance and utilities.

REAL ESTATE TAXES: Seller shall pay the 2013 real estate taxes due and payable in 2014. All subsequent taxes shall be the Buyers responsibility.

ACREAGE AND SURVEY: The Seller shall determine whether to convey title by current legal description or to survey the property. Any need for a new survey shall be at the Seller's sole discretion. Seller and Buyer shall each pay half (50:50) of the survey cost. The type of survey performed shall be at the Seller's option and sufficient for providing merchantable title. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries 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 Bidder's safety during any physical inspection of the property.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller. There shall be no subagency.

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.

Information Booklet

Auction Brochure

Click to download