Land Auction 103.9 +/- acres offered in 5 Tracts in Steuben County, Indiana

Thursday October 10, 2024 from 3-5pm
Wednesday October 16, 2024 from 3-5 pm
Meet Auction Manager on Site or Call Auction Manager for a Private Showing

AUCTION TERMS & CONDITIONS: PROCEDURE: The property will be offered in FIVE (5) individual tracts, any combination of tracts & as a total 103.9+/- acre unit. There will be open bidding on all tracts & combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations & the total property may compete. The property will be bid in a manner resulting in the highest total sale price.

DOWN PAYMENT: 10% down payment at close of the 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, & 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. The terms of this agreement & any addendum are non-negotiable.

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

DEED: Seller shall provide Executor's Deed(s).

DEED RESTRICTIONS: The following deed restrictions shall apply if the property sells in multiple tracts: All homes must be built to the Indiana 1 & 2 Family Dwelling Code. (This would exclude all mobile homes & typical doublewide modular homes).

PERIMETER DRAIN TILE EASEMENT: Easement access will be provided over tracts in this property for perimeter drain tile outlets if perimeter drain tile outlets beyond each individual tract are required by the Steuben County Health Department.

CLOSING: The balance of the real estate purchase price is due at closing, which is targeted to take place approximately 45 days after the auction.

POSSESSION: Buyer(s) shall receive possession at closing, subject to Tenant Farmer's right to harvest the 2024 crops.

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

REAL ESTATE TAXES: Real estate taxes will be pro-rated to the date of closing.

DITCH ASSESSMENTS: Buyer shall pay all ditch assessments due after closing.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries, & due diligence concerning the property. Inspection dates have been scheduled & will be staffed w/ auction personnel. Further, Seller disclaims any & 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.

TRACT MAP(S) & ACREAGE: All tract map(s), tract acreage, dimensions & proposed boundaries are approximate & have been estimated based on current legal descriptions and/or aerial photos. They are not provided as survey products & are not intended to depict or establish authoritative boundaries or locations.

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. Any need for a new survey shall be determined solely by the Seller. The seller & 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 & sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

TRACTS #1 & #2 WATER RIGHTS DISCLOSURE: Littoral water rights are subject to all applicable local, state, & federal regulations. Prospective bidders are advised to conduct their own due diligence regarding the specific rights, restrictions, & responsibilities associated w/ the property. Schrader Real Estate & Auction of Fort Wayne, LLC & Schrader Real Estate & Auction Co., Inc., makes no warranties or representations about the current or future usability of the water rights & is not liable for any issues arising from legal, environmental, or regulatory constraints.

EASEMENTS: 1) All real estate is being sold subject to any existing recorded easements. 2) All new easements have been verbally approved by Steuben County Highway Department @ (260) 668-1000 (Ext. 3615), located at 1900 North 200 West, Angola, IN 46703. Tract #1 shall provide a 25ft right of way easement to benefit Tract #2 & shall provide a 15ft right of way easement to benefit Tract #3. Tract #4 shall provide a 25ft right of way easement to use an existing driveway to benefit Tract #3 & shall provide a 25ft right of way easement to use an existing driveway to benefit Tract #5. The seller & successful bidder each pay half (50:50) of the cost for the new easements.

AGENCY: Schrader Real Estate & Auction of Fort Wayne, LLC & its representatives are exclusive agents of the Seller.

DISCLAIMER & ABSENCE OF WARRANTIES: All information contained in this brochure & all related materials are subject to the terms & conditions outlined in the Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, & no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & 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. The conduct of the auction & increments of bidding are at the direction & discretion of the Auctioneer. The Seller & 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.

NEW INFO, CORRECTIONS & CHANGES: Please arrive prior to the scheduled auction time to inspect any changes or additions to the property information.