• Productive Soils & Highly Tillable • Excellent Road Front • State Road 114 Highway Frontage • Farm A: 229.5+/- Contiguous Acres • Farm B: 80+/- Contiguous Acres
LAND AUCTION - 309.5+/- ACRES OFFERED IN 5 TRACTS IN NEWTON COUNTY, INDIANA
Morocco, IN - Newton County, IN
Owner: TR 1-3: Jack M. Storey & Shirley A. DeardurffTR 4 & 5: Jack M. & Bonnie J. Storey, Shirley & Dennis Deardurff Thu, Jun 22, 2023 CENTRAL
AUCTION IS OVER
TOTAL SOLD: $3,875,000
| Tract(s): 1+2 | @ $1,675,000 | ($12,679/acre) |
| Tract(s): 3 | @ $1,270,000 | ($12,709/acre) |
| Tract(s): 4+5 | @ $930,000 | ($11,625/acre) |
**BIDDING WILL NOT BE ALLOWED ON ANY TRACT COMBINATION THAT INCLUDES ALL OR ANY PART OF FARM A COMBINED WITH ALL OR ANY PART OF FARM B**
NOTICE: PLEASE REVIEW UPDATED DIRECTIONS TO PROPERTY BELOW DUE TO STATE ROAD 114 CLOSURE!
OPEN HOUSE/INSPECTION DATES
Thursday, May 25th from 3-5PM (CST)
Tuesday, June 13th from 3-5PM (CST)
Meet a Schrader Representative at Tract 1 on CR 100 W
PROPERTY LOCATION
NOTICE! - UPDATE TO PROPERTY DIRECTIONS DUE TO STATE ROAD 114 CLOSURE:
From east of Morocco at the Junction of US 41 & SR 114, go north on US 41 approximately 1/2 mile to CR 350 S. Go east on CR 350 S approximately .3 mile and then take the curve north onto CR 200 W and go 1/2 mile, then take the curve east onto CR 300 S and go approximately 1/4 mile to Tract 4 on the north side of the road. Tract 5 is on the east side of Tract 4. To Farm A (Tracts 1 -3), continue east of Tract 5 on CR 300 S 1/2 mile to CR 100 W. Go south on CR 100 W nearly 1/4 mile to Tract 3 on the west side of CR 100 W. Continue south on CR 100 W to Tract 2 and then Tract 1.
AUCTION LOCATION
Beaver Township Community Center
409 South Polk St, Morocco, IN 47963
From east of Morocco at the junction of US 41 and SR 114, go west on Michigan (CR 400 S) approx. 3/4 mile to Polk St. Turn north on Polk St and travel 1/8 mile to auction site on your right. The Beaver Township Community Center adjoins the fire station.
TRACT DESCRIPTIONS
Tract 1: 40.0± ac Productive farmland that is all tillable except roads. This tract has SR 114 highway frontage on the south & CR 100 W on the east side.
Tract 2: 92.1± ac Productive farmland & nearly all tillable except for CR 100 W on the east & the ditch on the north boundary.
Tract 3: 99.9± ac Productive farmland & nearly all tillable except for CR 100 W on the east side & the ditch on the south & western boundaries.
Tract 4: 40± ac Productive farmland that is mostly all tillable. Frontage on CR 300 S.
Tract 5: 40± ac Productive farmland that is mostly all tillable. Frontage on CR 300 S.
TRACT MAP(S)
Tracts 1-5
AREA MAP(S)
PROCEDURE: Farm A (Tracts 1-3) will be offered in 3 individual tracts, any combination of tracts & as a total 229.5+/- acre unit. Farm B (Tracts 4 & 5) will be offered in 2 individual tracts & as a total 80+/- acre unit. Bidding will not be allowed on any tract combination that includes all or any part of Farm A combined w/ all or any part of Farm B. There will be open bidding on all tracts & permitted combinations during the auction as determined by the Auctioneer. Bidding on individual tracts will compete w/ bidding on permitted tract combinations.
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 cashier's check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, & are capable of paying cash at closing.
ACCEPTANCE OF BID PRICES: All final bid prices are subject to the Seller's acceptance or rejection. All successful bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.
DEED: Seller shall provide a Warranty Deed sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, & all other matters of public record.
EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer(s), at Seller's expense, an updated title commitment prior to closing. The cost of providing an Owner's Title Policy shall be paid for by Seller at closing.
CLOSING: The balance of the purchase price is due at closing. The targeted closing date will be approx. 30 days after the auction or as soon thereafter upon completion of surveys, if applicable, the final title commitment & Seller's closing documents. Costs for an administered closing shall be shared 50:50 between Buyer(s) & Seller. All lender costs shall be paid by the Buyer(s).
POSSESSION: Possession is at closing, subject to rights of Owner/Tenant for the 2023 crop.
NOTE: At closing, Buyer(s) will receive $112.50 per tillable acre as a credit against the purchase price, in lieu of any farm rent for 2023.
REAL ESTATE TAXES: Seller shall pay all 2022 real estate taxes due & payable in 2023, as well as the first half 2023 real estate taxes due in 2024. Buyer shall assume any taxes thereafter. Seller shall pay ditch & drainage assessments due in May 2023. Buyer shall assume any ditch & drainage assessments due thereafter.
ACREAGE: All tract acreages, dimensions, & proposed boundaries are approx. & have been estimated based on county tax parcel data, county GIS, &/or aerial mapping.
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 or where Seller otherwise determines a survey is appropriate. Any need for a new survey shall be determined solely by the Seller. Seller & 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 & sufficient for providing title insurance. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised & surveyed acres.
PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries & due diligence concerning the property. Inspection dates have been scheduled & will be staffed w/ auction personnel. Further, Seller disclaims any & all responsibility for Bidder's 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.
EASEMENTS: Subject to any & all existing easements.
AGENCY: Schrader Real Estate & Auction Company, Inc. & its representatives are exclusive agents of the Seller.
DISCLAIMER & ABSENCE OF WARRANTIES: All info contained in this brochure & all related materials are subject to the terms & conditions outlined in the Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, & no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approx.. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & due diligence concerning the property. The info 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 & increments of bidding are at the direction & discretion of the Auctioneer. The Seller & 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.
