AUCTION IS OVER

BIDDING PROCEDURE: All tracts will be offered individually, in any combination or as a whole unit. Bidding on individual tracts and all combinations will compete until the end of the auction. The final bids are subject to the Sellers acceptance or rejection.

PURCHASE CONTRACT: Immediately following the close of bidding, each high bidder will sign a purchase contract in the form provided in the bidder packets. All information contained in this sale brochure and other marketing materials is subject to the terms and conditions contained in the written purchase contract. Seller shall not be bound by any statement, promise or inducement that is not contained or incorporated in the written purchase contract.

BUYERS PREMIUM: The purchase price will be the bid amount plus a 2% buyers premium.

DOWN PAYMENT: 10% of the purchase price will be due as a down payment on the day of auction, with the balance due in cash at closing. Contact the Auction Company to pre-register or visit www.schraderauction.com for a pre-registration form. If a bidder does not pre-register on or before Tuesday, June 24, any personal check for the down payment must be accompanied by a bank letter confirming the bidders financial ability to perform or the first $25,000 of the down payment, per tract, must be paid with bank certified funds. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

CLOSING: Closing will be on or before July 31, 2014, or as soon as possible thereafter upon completion of the survey (if applicable), the final title commitment and Sellers closing documents.

FALL CROPS: After closing, Seller will have the right to harvest any remaining fall-planted crops not harvested prior to closing.

SPRING CROPS: At closing, Buyer shall acquire the growing spring-planted crop and shall reimburse Seller for all of Sellers costs and expenses related to such crop through the auction date or closing date, as applicable. Buyer will have access to the land and growing crops prior to closing and may take over the farming operations with respect to such crops provided that Buyer signs a pre-closing access agreement acceptable to Seller. Contact the Auction Company for more details.

REAL ESTATE TAXES: Buyer will pay all taxes assessed for the calendar year 2014 except that, with respect to Tract 2, such taxes will be prorated to the date of closing.

EVIDENCE OF TITLE: Preliminary title insurance schedules will be available for review prior to the auction. At closing, Seller and Buyer will share equally in the cost of a standard owners title insurance policy (but any reissue credit will be allocated to Seller).

DELIVERY OF TITLE: The property will be conveyed by Special Warranty Deed, free and clear of liens but otherwise subject to all matters of record and other permitted exceptions described in the purchase contract.

NO MINERALS: The mineral rights are not owned by Seller and are not included in the sale of the real estate.

SURVEY: If any tract or combination is sold which cannot be conveyed using existing legal description(s), one or more new surveys will be provided as required by law to complete the transaction. Otherwise, a new survey will be provided only as deemed necessary or appropriate in Sellers sole discretion. If a new survey is provided, the survey costs will be shared equally (50:50) by Seller and Buyer and, unless the purchase includes Tract 2, the purchase price will be adjusted to reflect any difference between advertised and surveyed acres.

TRACT MAPS; ACRES: Tract maps and stated acres are approximations based on county parcel data, current legal descriptions and/or aerial mapping and are not provided as survey products.

PROPERTY INSPECTION: Inspection dates have been scheduled and will be staffed with auction personnel. Seller and Auction Company disclaim any and all responsibility for the safety of prospective bidders and other persons during any physical inspection of the property. No person shall be deemed an invitee with respect to the property by virtue of its being offered for sale. Except as authorized on scheduled inspection dates, prospective bidders are not permitted to access the property without the owners prior consent.

DISCLAIMER AND ABSENCE OF WARRANTIES: THIS PROPERTY IS OFFERED AS IS, WHERE IS. NO WARRANTY OR REPRESENTATION, STATED OR IMPLIED, IS MADE BY SELLER OR AUCTION COMPANY CONCERNING THE PROPERTY. Prospective bidders are responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. The information contained in this brochure and other marketing materials is subject to verification by all parties relying on it. Seller and Auction Company assume no liability for any inaccuracies, errors or omissions in such materials. All sketches and dimensions are approximate.

AGENCY: Schrader Real Estate and Auction Company, Inc. and its agents and representatives are exclusively the agents of the Seller.

CONDUCT OF AUCTION: The conduct of the auction and increments of bidding will be at the direction and discretion of the auctioneer. Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the persons identity, credentials, fitness, etc. All decisions of the auctioneer at the auction are final.

CHANGES: Please arrive prior to scheduled auction time to inspect any changes or additions to the property information. OFFICIAL ANNOUNCEMENTS MADE FROM THE AUCTION PODIUM ON AUCTION DAY WILL TAKE PRECEDENCE OVER THE MARKETING MATERIALS AND ANY OTHER PRIOR STATEMENTS.

STOCK PHOTOGRAPHY: Some photos are for illustrative purposes only and are not of the auction property.

Auction Brochure

Information Booklet

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