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REAL ESTATE AUCTION - 65+/- ACRES OFFERED IN 1 TRACT IN JASPER COUNTY, INDIANA
Thu, Mar 30, 1:00 PM
Jasper County, Indiana

Owner: Fred Whited as the Successor Trustee of the Darwin R. Whited Living Trust dated October 21, 2004

SOLD FOR $330,000

• 65+/- Acres in 1 Tract • Auction is March 30th @ 1PM Central time • Great Location • An Opportunity to Add to your present Farming operation • Online Bidding Available • 2.5 miles North of Wheatfield, Indiana

OPEN HOUSE/INSPECTION DATES
Wednesday, March 15 from 3-5 PM Central
Meet a Schrader representative at the house.

PROPERTY LOCATION
At the intersection of SR 10 and SR 49; take SR 49 2.5 miles north; the property is on the east side of SR 49. Address: 14517 N SR 49, Wheatfield, IN.

AUCTION LOCATION
At the intersection of SR 10 and CR 50/80 W; take CR 50/80 W south to American Legion, 11768 N CR 80 W, Wheatfield, IN.

TRACT DESCRIPTIONS
Tract 1: 65± ac parcel of land with approximately 57+/- acres tillable. The balance is in woods and home site. This tract has frontage on SR 49. There is a 1-1/2 story farm house with 1 BR, kitchen, living room, dining room and a full bath on the main level. The 2nd level has 2 bedrooms. This house has a partial basement. Well in basement, no pump. Also, this house has a front porch (no heat). This house has a newer septic system installed. Explore the possibilities of hunting on this tract of land.

RE Taxes 2015-pay 2016: $657.02 / 6 mo. The property record card shows 64.89 acres.
NOTE: The previous tenant has applied in Fall 2016 the following items to this tract: 0-0-60; Brash & Dimetric; cost $2,588.25. The Buyer will reimburse the Seller for the above amount at closing.

FSA INFORMATION
FARM LAND - 61.76 ACRES
CROP LAND - 57.83 ACRES
Corn base - 42.8 acres
Soybean base - .9 acres
Note: The FSA office has a small parcel of land in the NW corner of this tract being farmed and in their FSA info data: but that small parcel does not belong to the subject property.
For farm yield information, please contact the auction manager.


SOIL INFORMATION

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PROCEDURE: The property will be offered as a total 65+/- acre unit. There will be open bidding during the auction as determined by the Auctioneer.

DOWN PAYMENT: 10% down payment on the day of auction. 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 final bid price is subject to the Sellers acceptance or rejection. The successful bidder will be required to sign a Purchase Agreement at the auction site immediately following the close of the auction.

DEED: Seller shall provide a Trustees 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, and all other matters of public record.

COVENANT IN DEED: In accordance with the terms of the Darwin R. Whited Living Trust, the deed will include a covenant restricting the use of the land to normal agricultural (farming) purposes only until February 6, 2037.

EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer, at Sellers expense, an updated title commitment prior to closing. The cost of providing an Owners Title Policy shall be paid for by Seller at closing.

CLOSING: The balance of the purchase price is due at closing, which will take place 30 days after auction day, or as soon thereafter as applicable closing documents are completed by the Seller. Costs for an administered closing shall be shared 50:50 between Buyer and Seller. All lender costs shall be paid by the Buyer.

POSSESSION: Possession is at closing or immediate possession for farming activities with an additional 10% down payment.

REAL ESTATE TAXES: Seller shall pay all 2016 real estate taxes due and payable in 2017. Buyer shall pay all drainage and other assessments, if any, that are last payable without a penalty after closing.

REIMBURSEMENT: At closing, Buyer shall reimburse Seller $2,588.25, the amount being paid by Seller to the former tenant for farm input costs incurred by the former tenant in the Fall of 2016.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on county tax parcel data, county GIS and/or aerial mapping.

SURVEY: It is expected that the property will be conveyed using existing legal description(s). A new perimeter survey of the auction property will not be provided unless a new perimeter survey is required in order to record the conveyance or unless otherwise deemed necessary or appropriate in Sellers sole discretion. If a new perimeter survey of the property is provided, the survey costs shall be shared equally (50:50) between Buyer and Seller and the purchase price shall be adjusted proportionately to reflect the difference, if any, between the advertised acres 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. An inspection date has been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidders 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 and all existing easements.

AGENCY: Schrader Real Estate & 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 personals 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.