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64.12+/- ACRES LAND AUCTION OFFERED IN 3 TRACTS IN NOBLE COUNTY INDIANA
Mon, Dec 2, 6:00 PM
East 500 N Albion IN 46701-Noble County Indiana

Owner: JD Reeve Acres LLC

SOLD FOR $520,000

• TILLABLE LAND • POTENTIAL BUILDING SITE

OPEN HOUSE/INSPECTION DATES
Thursday November 14, 2024 from 3-5pm
Tuesday November 26, 2024 from 3-5pm

PROPERTY LOCATION
East 500 N Albion IN 46701
Property sits between 150 East & 300 East; North of Albion

AUCTION LOCATION
AUGUSTA HILLS COMMUNITY CENTER
2080 WEST 300 NORTH ALBION, IN 46701

PROPERTY DESCRIPTION
JD REEVE ACRES LLC is offering an excellent opportunity to acquire a picturesque property in Noble County, IN. This property consists of 64.12+/-acres of mostly tillable land, which includes a 3+/- acre potential building site! This property is located a short distance from Albion, IN and has good road frontage on East 500 North in Jefferson Township. Whether you are an operator looking to acquire additional acreage, an individual looking to buy a potential building site in the country, or an investor looking to purchase additional land, do not miss this opportunity to bid on a picturesque property in Noble County!

TRACT DESCRIPTIONS
Tract 1: 22.1± ac With good road frontage on East 500 North, this tract is mostly tillable. The soil is a mix of Morley silty clay loam, Pewamo silty clay loam and Rawson, Morley, and Miami loams. Combine Tracts #1 & #2 for 61.12+/-acres in rural Noble County
Tract 2: 39.0± ac With good road frontage on East 500 North, this tract is mostly tillable. The soil is a mix of Morley silty clay loam, Morley, Miami, and Rawson loams, Washtenaw silt loam, Milford silty clay loam and Houghton muck. A possible freshwater emergent wetland is also present on this tract by the road. Combine Tracts #1 & #2 for 61.12+/- acres in rural Noble County!
Tract 3: 3± ac With good road frontage on East 500 North and a high elevation, this tract offers a picturesque setting for a potential new homestead! The possibilities are endless for this tract in rural Noble County!

AUCTION TERMS & CONDITIONS:

PROCEDURE: The property will be offered in THREE (3) individual tracts, any combination of tracts and as a total 64.12+/- acre unit. There will be open bidding on all tractsand combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and 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, 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. The terms of this agreement and 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 Warranty 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 and 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 Noble County Health Department.

CLOSING: The balance of the real estate purchase price is due at closing. ALL POTENTIAL BIDDERS MUST BE ABLE TO CLOSE ON EACH TRACT BY 12/30/24.

POSSESSION: Buyer(s) shall receive possession at closing.

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, 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.

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

SURVEY: The seller shall provide a new survey to show all new legal descriptions and/or boundaries created. The seller and successful bidder(s) shall each pay half (50:50) of the cost of the new survey. The type of survey performed shall be sufficient for providing title insurance.

EASEMENTS: All real estate is being sold subject to any existing recorded easements.

RECONSTRUCTION OF DRAIN PROJECT: Seller received a July 1, 2022, notice from the Noble County Drainage Board regarding a pending reconstruction project of the Stillinger #337 and Stillinger #337 BR #3 drains. The auction company is informed that the auction property will be assessed a shared portion of the total cost of reconstruction, with a base rate of $750.00 (per acre) and a minimum rate of $1,500 (per tract of land), which will be billed or due in approximately 2026. All final property tax levy questions shall be directed to Noble County, IN Drainage Board @ (260)636-2131. A copy of the notice and a PROPOSED schedule of assessments is available to review under "Auction Details, then Downloads."

AGENCY: Schrader Real Estate & Auction of Fort Wayne, LLC 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. NEW INFORMATION, CORRECTIONS AND CHANGES:

Please arrive prior to the scheduled auction time to inspect any changes or additions to the property information.