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Land Auction 458+/- acres in 11 Tracts - Farmland, Woods
Tue, Jun 11, 6:00 PM
25 miles west of Lafayette, IN - South of Oxford - Benton County

Owner: Tri-State Farms

• • Productive Farmland • Grain Storage & Pole Buildings • 4 Scenic Woodland Tracts • Frontage on SR 55 • 1Mile South of Oxford • 25 Miles West of Lafayette

OPEN HOUSE/INSPECTION DATES
Thursday, May 16
4:00PM - 6:00PM

Thursday, May 30
4:00PM - 6:00PM

Meet a Schrader Representative at
Tract 6 for Further Information.

PROPERTY LOCATION
Address: 7509 S 300 East, Oxford, IN.
Directions: From the intersection of SR 26 & SR 55 in Pine Village go north on SR 55 approx. 2.7 miles to the property on the left side of the highway (Tract #1). or From the intersection of SR 352 and SR 55 in Oxford, go south on SR 55 approx. 1.5 miles to the property on the right side of the highway (Tract #1)

AUCTION LOCATION
Beck Agricultural Center located on the Purdue Agronomy Farm which is 1.5 miles west of Klondike on U.S. Hwy. 52. Address: 4540 U.S. 52 W.,West Lafayette, IN 47906

PROPERTY DESCRIPTION
458 acre tract within 11 tracts. Site offers productive farmland, grain storage and pole buildings. With 4 scenic woodland tracts and frontage to SR 55. The site is located 1mile south of Oxford, IN

TRACT DESCRIPTIONS
Tract 1: 60± ac Productive farm land with highway frontage on State Hwy 55 and Co Rd 800 S. This has 2.1 acres for waterways in CRP. Combine Tracts 1 & 2 for 125 acres with approximately 117 acres of productive tillable farm land and 6 acres of waterways.
Tract 2: 64± ac Productive farm land with frontage on Co Rd 300 E and Co Rd 800 S.
Tract 3: 7.5± ac 64,000 bushel grain facility consisting of (3) 18,000 bushel bins (33 ft dia. x 9 rings) with 1.5 hp fan (1) 10,000 bushel bin (30 ft dia x 7 rings) with 1.5 hp fan, 70 ft elevator leg, 8x7x4 dump pit, 2,000 bushel hopper bottom bin on super structure for grain load out. This tract also includes a pole building. All improvements located on 7.5 acres of land. Pneumatic piping in place.
Tract 4: 20± ac Pasture land accented with mature hardwood trees plus a scenic pond. This tract has it all, including a scenic pond, mature oak trees plus other mixed hardwood trees for shade, excellent fencing and well maintained pasture land. Pristine potential building site, recreational area and prime pasture land. Combine Tracts 4 thru 8 for 68 acres of well maintained/excellent fence pasture land.
Tract 5: 20± ac Pasture land accented with mature hardwood trees. The mature oak trees plus other mixed hardwood trees are bordered on the north by a creek creating a pristine country setting.
Tract 6: 7.5± ac Pasture land with well maintained pole building. Investigate this tract as a potential building site or in combination with other tracts.
Tract 7: 12± ac Pasture land with scattered mature hardwood trees. Excellent fencing on east and west boundary line. Easy access from Co Rd 300 E.
Tract 8: 15± ac mature hardwood trees with some open pasture areas (meadow). Excellent potential building site with easy access from Co Rd 700 S. Less than 1 mile from Oxford just off of State Rd 55. Golf course within less than 1 mile of the property.
Tract 9: 90± ac Productive farm land with frontage on Co Rd 700 S. This tract also has easy access from Co Rd 700 S and excellent outlet for drainage with an open ditch on the west boundary line. Approximately 83.7 acres of tillable farm land with 4.1 acres in waterways.
Tract 10: 89± ac Productive farm land with easy access to Co Rd 700 S and excellent drainage outlet deep well maintained open ditch as the east boundary line of this tract. Approximately 86 acres of tillable farm land with 1.6 acres of CRP waterways.
Tract 11: 79± ac Productive Benton County farm land with frontage on Co Rd 700 S. This tract has approximately 74 acres of tillable farm land with 3.5 acres of CRP waterways. Combine Tracts 10 and 11 for a total of 168 acres in one large contiguous field with an excellent drainage outlet.


SOIL INFORMATION

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  (Click to enlarge)

PROCEDURE: The Properties will be offered in 11 individual tracts, any combination of tracts and as a total 458+/- acres. There will be open bidding on all tracts 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 cashier's 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: All final bid prices are subject to the Sellers' 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 deed sufficient to convey insurance 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.

EVIDENCE OF TITLE: Seller will provide a preliminary title insurance commitment to review prior to auction. Seller agrees to furnish Buyer(s) at Sellers expense an updated Owner's Policy of Title Insurance prior to closing. CLOSING: The balance of the purchase price is due at closing, which will take place 15 days after closing documents are prepared (estimated to be on or before August 1, 2013).

CROP REIMBURSEMENT: Buyer to reimburse Seller for his share of the 2013 crop expense and receive the Seller's share of the 2013 crop. A detailed summary of crop expenses will be available for review 2 weeks prior to the auction.

POSSESSION: Possession is at closing, subject to tenant's rights for the 2013 crop year. Tenant shall have possession of the Grain Bins until May 1, 2014.

REAL ESTATE TAXES: Seller to pay 2012 taxes due and payable in 2013. ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

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 and successful bidder shall each pay half (50:50) of the cost of the survey. Combination purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres.

PLANNING APPROVAL: The sale of all tracts is subject to any necessary county planning approval or other necessary county approval. The real estate is being offered for agricultural purposes, and any construction on the property may require county approval.

CRP: There are CRP contracts pertaining to Tracts 1,2,9,10 and 11. Buyers shall assume these CRP contracts and assume all responsibility and benefits.

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. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and 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 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 "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 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.

OWNER: Tri-State Farms