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EASTERN INDIANA LAND AUCTION 72 +/- ACRES - CAMBRIDGE CITY, INDIANA (HENRY COUNTY)
Wed, Dec 14, 11:00 AM
Cambridge City, IN

Owner: Gilda Hubbell. Lea R. Fledderman, & Lawrie K. Willis

SOLD FOR $985,000

• Top Agricultural Area • 1.5 miles from I-70 Interchange at Exit 131 • Nearly all Tillable • Cyclone & Crosby soils with corn index of 158.5 • 2023 Crop Rights to Buyer

OPEN HOUSE/INSPECTION DATES
Tuesday, December 6 from 9-10am
Also, at prospect's convenience & risk with suitable ground conditions

PROPERTY LOCATION
Located south of I-70 at the S. Wilbur Wright Rd. exit (Exit 131). From I-70 take Exit 131 and travel south 1 1/2 miles to US 40. Turn right to the farm 1/8 mile on the north side of the road. Physical Address: is adjacent to 6250 E. US Highway 40 Cambridge City, IN 47327 (House and buildings not included). Located 1 mile east of Straughn, IN.

PROPERTY DESCRIPTION
Golay Community Center
1007 East Main St.
Cambridge City, IN 47327

TRACT DESCRIPTIONS
Tract 1: 71.9± ac of highly productive farmland with an impressive mix of Cyclone & Crosby Soils. This is a great location with easy interstate access and frontage on East US Highway 40. 68+/- FSA Cropland acres with a soil productivity corn index of 158.5. A new tile main was installed in 2020. Excellent opportunity here.

PROCEDURE: The property will be offered as a single 71.926+/- acre unit.

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 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 final bid prices are subject to the Seller's acceptance or rejection. All successful bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.

DEED: Seller shall provide a Warranty Deed sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.

EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer(s), at Seller's expense, an updated title commitment prior to closing. The cost of providing an Owner's Title Policy shall be paid for by Seller at closing.

CLOSING: The balance of the purchase price is due at closing. The targeted closing date will be approximately 30 days after the auction or as soon thereafter upon completion of surveys, if applicable, the final title commitment and Seller's closing documents. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Seller shall pay all 2022 real estate taxes due and payable in 2023. Buyer(s) shall assume any taxes thereafter. Buyer(s) shall assume any ditch and drainage assessments due after closing. 2021 Taxes pay 2022 are $2,076.10 (annual). Current Ditch assessment $46.50. The auction property consists of Henry County Tax Parcels #33-18-26-000-203.000-003 and #33-18-26-000-202.000-003.

ACREAGE: 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.

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(s) 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.

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.

EASEMENTS: Subject to any and all existing easements.

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.