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LAND AUCTION - 1,694+/- ACRES OFFERED IN 15 TRACTS IN KNOX COUNTY, INDIANA
Tue, Oct 25, 6:00 PM
Knox County, IN

Owner: EC Steckler Farms INC.

SOLD FOR $13,544,500

• Tracts Ranging from 34-300+/- Acres • Unique Opportunity to Acquire a Large Contiguous Tract of Farmland • 1,427+/- FSA Cropland Acres • Tremendous Amount of Wildlife Activity • Wooded Acreages - Offering Great Hunting and Timber Investment

OPEN HOUSE/INSPECTION DATES
Tuesday, September 27 from 10am-12pm (noon),
Wednesday, October 5 from 10am-12pm (noon),
Monday, October 17 from 10am-12pm (noon) &
Tuesday, October 25 from 10am-12pm (noon)
Meet Schrader Auction Representatives at Tract 13/Oil well road that leads to Tract 12

PROPERTY LOCATION
From Vincennes IN, take US Hwy 41 south 11 miles to Decker Chapel Rd. Turn west, (Decker Chapel Rd turns into Claypole Rd and White River Rd) and travel 8.7 miles to Tract 1. Watch for Directional signs.
Tracts 2 - 14: From the northeast corner of Tract 1, continue on White River Rd for 4.5 miles to Tracts 2 - 14.
Tract 15: From the northeast corner of Tract 1, go west on Orrville Rd for 2.2 miles to the access road for Tract 15.

AUCTION LOCATION
Highland Woods Community Center:
1377 Hart St, Vincennes, IN 47591



TRACT DESCRIPTIONS
Tract 1: 87± ac
Tract 2: 64± ac Nearly completely tillable upland!
Tract 3: 88± ac 1.2 Acres enrolled in CRP paying $223 annually.
Tract 4: 34± ac Great potential building site and/ or recreational Tract.
Tract 5: 52± ac
Tract 6: 230± ac Large contiguous field. Great 2022 soy bean crop!
Tract 7: 55± ac Potential for cabin lots along the White River! Study the opportunity!
Tract 8: 126± ac
Tract 9: 107± ac
Tract 10: 69± ac Level topography. Great 2022 corn stand!
Tract 11: 68± ac
Tract 12: 85± ac Investigate the potential for harvestable timber. Tons of wildlife activity!
Tract 13: 169± ac
Tract 14: 300± ac 3.3 acres per FSA enrolled in CRP in 2017 paying $1,127 annually.
Tract 15: 160± ac 63.93 acres per FSA enrolled in CRP in 2017 paying $17,997 annually. Hunter’s paradise

PROCEDURE: The property will be offered in 15 tracts, combination of tracts, or as a whole, consisting of a total of 1,694+/- acres. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on individual tracts and the total property may compete. The property will be sold in the manner resulting in the highest total sale price.

BUYER'S PREMIUM: The contract purchase price will include a Buyer's Premium equal to 3% of the bid amount.

DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, with the balance due in cash at closing. 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 successful bidders will be required to sign purchase agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Seller's acceptance or rejection.

DEED: Seller shall be obligated only to convey a merchantable title by a Corporate Warranty Deed.

EVIDENCE OF TITLE, TITLE INSURANCE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller shall furnish at Seller's expense an updated title insurance commitment disclosing marketable title to the real estate in the name of the Seller as of a date after the Auction and prior to closing, subject to all standard requirements, conditions and exceptions and subject to the Permitted Exceptions. At closing, Seller shall pay for the cost of issuing a standard coverage owner's title insurance policy in accordance with the updated commitment. Any lender's title insurance policy shall be at Buyer's sole expense.

CLOSING: The balance of the purchase price is due at closing. The targeted closing deadline is approximately 60 days after the auction or as soon thereafter upon completion of surveys, if applicable, the final title commitment and Seller's closing documents. The closing agent's fee for administering closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession shall be at closing, subject to the 2022 farm lease. If Buyer elects to have access prior to closing, Buyer will be required to deliver an additional 10% down payment (for a total of 20%) and sign a Pre-Closing Access Agreement.

REAL ESTATE TAXES: The 2022 Real Estate taxes due in 2023 shall be paid by the seller at the time of closing.

MINERALS: Seller specifically EXCEPTS and reserves all minerals, including without limitation, oil, gas, coal, coalbed methane, and all other hydrocarbons, lignite, and all metallic minerals, etc., if any, associated with the referenced real estate, and the term "Property" shall not include any mineral rights.

ACREAGE AND TRACTS: 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. Any corrections, additions, or deletions will be made known prior to the auction.

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. The type of survey performed shall be at the Seller's option and sufficient for providing title insurance. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres but if and only if the difference exceeds one acre.

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. It shall be a requirement that Buyer shall indemnify, defend and hold Owner harmless from any and all loss, cost, expense, damage, liability, mechanics' or materialmen's lien or claim of lien, action or cause of action, including without limitation reasonable attorneys' fees, arising from or relating to any and all inspections, studies, investigations or entries upon the Property by Buyer or its agents or representatives. Such indemnity shall expressly survive closing or any termination of a purchase contract if no Closing occurs and the purchase contract is terminated.

EASEMENTS: Subject to any and all existing easements.

STOCK PHOTOGRAPHY: A timber photo was used for illustrative purposes only and was not taken on the auction property.

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 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.