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REAL ESTATE NORTHERN OHIO AUCTION, 79+/- Acres offered in 3 Tracts
Tue, Dec 2, 6:00 PM
Burgoon, Ohio, Sandusky County, Jackson Township SE

Owner: William Mitchell Irrevocable Trust; Peoples Federal Savings Bank, Trustee

SOLD FOR $560,000

• Northern Ohio Real Estate Auction
• 79+/- Acres offered in 3 Tracts
• Highly Productive, Tillable Cropland
• 10 miles from Fremont, Ohio
• 14 miles from Fostoria, Ohio
• 16 miles from Tiffin, Ohio
• 40 miles from Toledo, Ohio
• 63 miles from Sandusky, Ohio
• Online Bidding Available

OPEN HOUSE/INSPECTION DATES
Tues., November 11, 3-5 PM
Meet a Schrader representative at the barn on Tract 1 for more information.

PROPERTY LOCATION
2704 CR 13 (Burgoon Road), Burgoon, OH 43407.
Directions: From Burgoon, Ohio, travel east on Main St./Burgoon Rd./CR 13 for 1 mile to the property on the north side of Burgoon Rd. (between OH-590 and OH-12.)

AUCTION LOCATION
American Legion James W. Sullivan Post 733, 3751 OH-12 (State Street), Bettsville, OH 44815

TRACT DESCRIPTIONS
Tract 1: 38± ac with 33.5+/- acres tillable as per the FSA. The predominant soil types are Merrmill loam and Haskins sandy loam. This tract includes a 64 ft.x40 ft. barn ideal for livestock or equipment storage, a grain storage bin with aerated floor and sweep auger, and a small framed corn crib. Investigate the income potential offered here with easy access, quality soils, and excellent drainage outlets to the open ditches on the north and east borders.

Tract 2: 24± ac with 23.3+/- acres tillable as per the FSA. Soil types include Merrmill loam, Kibbie sandy loam, and Colwood sandy loam. There are over 480 ft. of frontage along Burgoon Road. This tract has excellent drainage outlets on the north and west borders.

Tract 3: 17± ac SWING TRACT with over 16+/- acres tillable as per the FSA. Merrmill loam, Kibbie sandy loam, and Colwood sandy loam are the primary soil types. The open ditch provides an excellent drainage outlet. Tract 3 must be purchased in combination with Tract 1 and/or Tract 2 or by an adjoining land owner.

ONLINE BIDDING AVAILABLE: You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Kevin Jordan at Schrader Auction Co. - 800-451-2709.


SOIL INFORMATION

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PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts and as a total 79+/- acre unit. There will be open bidding on all tracts (with swing tract limitations) and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete.

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 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: Successful bidder(s) will be required to enter into purchase agreement at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.

EVIDENCE OF TITLE: The Seller shall provide a preliminary opinion of title to be made available to prospective bidders for review prior to bidding. If any buyer elects to purchase title insurance, the cost thereof shall be at such buyers sole expense. Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar or related matters. All tracts sold AS IS.

DEED: Appropriate deed will be delivered at closing.

CLOSING: Closing shall take place 30 days after auction date, or as soon thereafter as applicable closing documents are completed.

POSSESSION: Possession at closing subject to tenants rights for the remainder of the 2014 crop year.

REAL ESTATE TAXES: Buyer shall assume real estate taxes beginning with the 2015 calendar year taxes due and payable 2016. If usage is changed, the Buyer is responsible for CAUV Recoupment.

ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions.

SURVEY: A new survey will be made where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Buyer(s) and Seller shall share survey expense 50:50.

FSA INFORMATION: Contact Auction Company for farm number and farm bases.

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.

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 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 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.