5.501 Acre Real Estate - Parts & Equipment Auction
Real Estate Tue, Jan 31, 11:00 AM
Equipment & Personal Property at 11:00 AM
Northwest of Lafayette, Indiana

Owner: M&T Repair

• Inventory Reduction of M&T Repair

OPEN HOUSE/INSPECTION DATES
REAL ESTATE INSPECTION:
Thursday, January 12, 1-5 PM
For a private showing call Jim at 888-808-8680 or 765-427-1913

PRE-AUCTION INSPECTION OF PARTS AND EQUIPMENT:
Thursday, January 12, 1-5PM
or for private showing call Jim Hayworth at 888-808-8680 or
765-427-1913

PROPERTY LOCATION
From Brookston, IN, at the intersection of SR 43 & SR 18, take SR 18 7 miles west to CR 700W, then go 1 mile north on CR 700W to CR 900S. The property will be on the west side of CR 700W. Or from the intersection of I-65 & SR 18, go approximately 1 mile west on SR 18 to CR 700W, then go 1 mile north on CR 700W to the auction site.

AUCTION LOCATION
On site.

TRACT DESCRIPTIONS
Tract 1: 1.2± ac A tract of land with frontage on CR 700W & CR 900S. This tract also has a 1-1/2 story house with 2172 sq. ft. (per White County Assessor Sheet), 3 bedrooms and a full bath upstairs, large family room with gas fireplace, living and dining room, modern kitchen and a small downstairs bath. It has a partial basement, 200 amp service, LP gas heat and central air. The house has a front porch and a deck and rear porch. This house has a new roof on the main house two years ago. Also, approximately 15-20 years ago the windows and electrical were updated. This house has a 24 ft.x32 ft. attached garage, heat and electrical garage doors.

PLEASE NOTE: If the tracts sell separately, the well for the house is located on Tract 2 and the old shop septic field is in Tract 1. Also, a new electrical meter will need to be installed.

Tract 2: 4.3± ac A tract of land with frontage on CR 700W. This tract has the following improvements:

PROCEDURE: The property will be offered in 2 individual tracts, any combination of tracts and as a total 5.501acre unit. 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 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 auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.

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

DEED: Seller shall provide a Receivers Deed(s).

CLOSING: Closing will occur 30 days after the day of sale.

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: The Seller shall pay the 2011 real estate taxes due in 2012. The Buyer shall pay all taxes thereafter.

DITCH ASSESSMENTS: The Buyer shall pay any ditch assessments due after closing, if any.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: If the property sells in tracts and there is no existing legal description for the tracts, then a new survey will be ordered and the cost of the new survey will be split 50:50 between Seller and Buyer.

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 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.