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IMPORTANT LAND AUCTION - 320+/- ACRES OFFERED IN 10 TRACTS IN DELAWARE COUNTY, INDIANA
Thu, Jun 25, 6:00 PM
East Central Indiana - Delaware County, Indiana

Owner: Donal R. Johnson Estate and Joanne E. Troutner & The Purdue University Foundation

SOLD FOR $3,047,000

• 320+/- Acres offered in 10 Tracts • INVESTMENT QUALITY CROPLAND • Beautiful Country Home • 293+/- Tillable Acres • Quality Soils • County Legal Drain Access • Attractive Homesite Building Tracts • Great location between Gaston and Matthews • Just 20 minutes to Muncie or Marion and 60 minutes to Ft. Wayne • Harrison-Washington Schools (Wes-Del) • 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 Schrader Auction Company at 800-451-2709.

OPEN HOUSE/INSPECTION DATES
Thursday, June 4 from 5-7pm
Saturday, June 6 from 9-11am
Thursday, June 11 from 5-7pm
Saturday, June 20 from 9-11am

PROPERTY LOCATION
TRACTS 1-7: From I-69 and SR 28/SR 35 interchange: Travel east on SR 28/35 approximately 3 miles to CR 600 West, turn left (north) and travel about 6.25 miles, passing through Gaston, to the farm.
TRACTS 8-10: From I-69 and SR 28/SR 35 interchange: Travel east on SR 28/35 approximately 3 miles to CR 600 West, turn left (north) and travel about 6 miles, passing through Gaston, to CR 600 North, then turn right (east) and travel about 3/4 mile to the Eaton-Wheeling Pike (also Jonesboro Rd.), turn right (south) and travel approximately 1/2 mile to the farm on the right (south side).

AUCTION LOCATION
Delaware County Fairgrounds - Heartland Hall Building
1210 N. Wheeling Ave., Muncie, IN.
(Between downtown Muncie and McGalliard Rd. along Wheeling Ave.)

TRACT DESCRIPTIONS
Tract 1: 72.5± ac All tillable tract, mostly Pewamo and Blount-Del Rey soils, frontage along CR 600W. County legal drain crosses west end.
Tract 2: 40.00± ac All tillable tract, mostly Pewamo and Blount-Del Rey soils, frontage along CR 600W. County legal drain for excellent drainage outlet.
Tract 3: 46.5± ac All tillable parcel, mostly Pewamo and Blount-Del Rey soils. Frontage along CR 600W and CR 1300N. County legal drain for excellent drainage outlet.
Tract 4: 8.00± ac Beautiful partially-open, partially-wooded building site. Perfect for that new Country Home. Frontage along Eaton-Wheeling Pike.
Tract 5: 8.00± ac Attractive mostly-open building site. Small wooded area in the rear. Great location. Frontage on Eaton-Wheeling Pike.
Tract 6: 16.5± ac All tillable with good frontage along Eaton-Wheeling Pike. Nice location for a hobby farm or homesite. Pewamo, Glynwood and Blount-Del Rey soils.
Tract 7: 7.5± ac Beautiful, modern Country Home in an impressive setting along CR 600W. 3,336 SF with 3 BR, 2 baths, natural gas fireplace, central air, full basement and attached garage. Outbuildings include two older post and beam barns, an open-sided pole barn approximately 32 ft.x48 ft., and two grain bins (4,000 bu. & 12,000 bu.), both with fans. This is a well-cared for property - do not miss this opportunity! Property is located at 19810 N County Road 600 W, Gaston, IN 47342
Tract 8: 55.00± ac About 49+/- acres tillable, mostly Pewamo and Blount-Del Rey soils. Frontage along Eaton-Wheeling Pike.
Tract 9: 54.00± ac Nearly all tillable with frontage along Eaton-Wheeling Pike. Pewamo, Blount-Del Rey and Glynwood soils. Frontage along Eaton-Wheeling Pike.
Tract 10: 12.00± ac Uniquely attractive building site. Rolling wooded acreage with open land. Frontage on Eaton-Wheeling Pike.

• Tracts 1-7
  
• Tracts 8 & 9
  

PROCEDURE: The property will be offered in 10 individual tracts, any combination of tracts and as a total 320+/- acre 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 an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide Warranty Deed(s).

CLOSING: The balance of the real estate purchase price is due at closing, with the targeted closing date will be approximately 30 days after the auction.

POSSESSION: At closing subject to 2020 tenant crop rights. A credit for partial 2020 farm cash rent shall be credited to the buyer at closing in the amount of $85 per tillable acre.

REAL ESTATE TAXES: Prorated to date of closing. 2018/2019 Taxes were $7659.06 or about $24.50/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 Bidders 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.

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

FARM PROGRAM INFO: Farm 3185: Corn Base Acres-145.1, Yield 147. Soybean Base Acres-132.4, Yield 48. Wheat Base Acres-15.3, Yield 68.

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. 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 Company, Inc. and its representatives are exclusive agents of the Sellers.

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.