PROCEDURE: This site will be offered as one parcel. There will be open bidding on the property until the close of the auction as determined by the auctioneer.

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.

ACCEPTANCE OF BID PRICES: The successful bidder will be required to enter into a purchase agreement at the auction site immediately following the close of the auction. The property is being sold, As-Is.

DEED: Seller shall provide a Warranty Deed and Title Insurance for the property.

DEED RESTRICTIONS: The following use restrictions shall be included in the transfer deed for any property sold at this auction: A. The property shall not be used for: (1) The sale, either retail or wholesale, of propane or agricultural products of any kind including, but not limited to, seeds, chemicals or liquid or dry fertilizers; (2) The sale, either retail or wholesale, of any type of grain that is governed by the Indiana Department of Agriculture or any successor agency; or (3) The storage of grain for a fee. B. Any grain storage improvements on the property, now existing or built in the future, shall not be subdivided or developed into condominiums to be sold for grain storage. C. These restrictions shall run with the land and be binding on the purchaser and their heirs, successors and assigns. Purchaser agrees that these restrictions will be referenced in any future instrument conveying the property or any portion thereof.

CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days after the auction. Any normal closing costs shall be shared 50:50 between Buyer(s) and Seller. The closing shall be at the office of Schrader RE & Auction of Ft. Wayne.

POSSESSION: Possession shall be on the day of closing, immediately following the closing.

REAL ESTATE TAXES: The Real Estate taxes shall be pro-rated to the day of closing.

ACREAGE: The tract acreage, dimensions and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: Solely the Seller shall determine any need for a new survey. Seller and successful bidder shall each pay half (50:50) of the cost of any necessary survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance.

AGENCY: Schrader Real Estate & Auction Co. 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 AS IS, WHERE IS basis, and no warranty or representation, either express, 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 conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the 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 persons 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.

Auction Brochure

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