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AUCTION, 206 Contiguous Acres offered in 5 Tracts
Thu, Apr 9, 6:00 PM
Elkhart County, Indiana

Owner: Palmate Farms, LLC

SOLD FOR $2,325,000

• AUCTION
• 206 Contiguous Acres offered in 5 Tracts
• Offered separately or in combinations!
• Mostly Tillable Acreage
• Productive Soils
• Abundant Road Frontage
• Farm Sites
• Online Bidding Available

OPEN HOUSE/INSPECTION DATES
Meet a Schrader Representative at the Tract 1
drive on County Road 37 on the following dates:
SATURDAY, MARCH 14 from 10AM-12Noon
TUESDAY, MARCH 17 from 4PM-6PM
Walk-over inspections permitted

PROPERTY LOCATION
Elkhart County, Clinton Township, Section 21.
Located with frontage on County Roads 35, 36 and 37; approximately 3.5 miles east of Goshen.

AUCTION LOCATION
Elkhart County Fairgrounds, 17746 County Road 34, Goshen, IN.

TRACT DESCRIPTIONS
Tract 1: 17± ac
Located with frontage along County Road 37, this tract offers a perfect mini farm site. This is an elevated site with 780 feet of road frontage. This tract is mostly tillable with a gate entrance into a lane that runs along the south property line. Soils on this tract are mostly Riddles-Oshtemo fine sandy loams.

Tract 2: 37± ac SWING TRACT
Located between Tracts 1 and 3. This tract can only be purchased in combination with another tract with access or by an adjacent land owner. This tract would make an excellent compliment to Tracts 1, 3, or 5. The lane along Tract 1 also runs along the south border of this tract. Its soils are a combination of Brookston loam and Bristol loamy sand.

Tract 3: 60± ac
Located with frontage along County Road 35, this tract offers a very deep nearly 60 acre farm site. There are approximately 985 feet of road frontage. There is also a small 3+/- acre woods near the back of the property. The elevation also rises up as it goes to the back, then slopes down towards Tract 4. The soils on the tract are mostly Riddles-Oshtemo fine sandy loams.

Tract 4: 25± ac SWING TRACT
Located between Tracts 3 and 5, this tract has a much lower elevation and contains a small open drain across the tract. Again, as a Swing Tract, this tract can only be purchased in combination with a tract with access or by an adjacent land owner. This tract would compliment Tracts 3 or 5 for drainage. Its soils are mostly Rensselaer loam and Brookston loam.

Tract 5: 67± ac
Located with frontage along County Road 36. This tract offers a gorgeous view overlooking the valley created by the elevations. It is mostly elevated along the road and then slopes to the southwest to create the valley which feeds into Tract 4. There is approximately 1825 feet of road frontage. The combination of Tracts 2 and 5 would be a rectangular 100+ acre farm. The soils are mixed on the tract as the elevations change.

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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  (Click to enlarge)

PROCEDURE: The property will be offered in 5 tracts, and any combination of the 5 tracts, in accordance with Swing Tract rules. There will be open bidding on all tracts and the combinations during the auction as determined by the Auctioneer. Bids on each tract, combinations, and the total property may compete.

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: All successful bidders will be required to enter into purchase agreements at the auctions site immediately following the close of the auction. Seller reserves the right to reject any and all bids.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide General Warranty Deed(s).

CLOSING: The balance of the purchase price is due at closing, which will take place on or before May 15, 2015. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession of all tracts shall be on day of closing, immediately after the closing. Buyer(s) may get possession prior to closing by paying an additional 10% down to Auction Company.

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

Buyer shall pay any ditch assessments due and payable after closing. ACREAGE: All tract acreage, 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 the tract divisions in this auction create new boundaries. 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 the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

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.