Tract 7

329.45+/- Acres of Large Continuous Tract of Tillable Land with Good Soils and Great Yield Potential located in Huntington Co., Indiana.

METHOD OF SALE: Halderman Real Estate Services, Inc. (HRES, IN Auct. Lic. #AC69200019) will offer this property at public auction on December 13, 2022.  At 6:30 PM, 329.5 acres, more or less, will be sold at the Heritage Hall at the Huntington County Fairgrounds, 631 East Taylor Street, Huntington, IN 46750.  This property will be offered in eight (8) tracts as individual units, in combination or as a whole farm.  Each bid shall constitute an offer to purchase and the final bid, if accepted by the Sellers, shall constitute a binding contract between the Buyer(s) and the Sellers.  The auctioneer will settle any disputes as to bids and his decision will be final.  To place a confidential phone, mail or wire bid, please contact Rick Johnloz at 260.827.8181 or Jon Rosen at 260.740.1846 or Pat Karst at 260.224.0415 at least two days prior to the sale.

APPROVAL OF BIDS:  The Sellers reserve the right to accept or reject any and all bids.  All successful bidders must enter into a purchase agreement the day of the auction, immediately following the conclusion of the bidding.  Successful bidders must execute purchase agreements on tracts exactly as they have been bid. 

DOWN PAYMENT:  10% of the accepted bid down on the day of the auction with the balance due at closing.  The down payment must be in the form of personal check, cashier’s check, cash or corporate check.  YOUR BIDDING IS NOT CONTINGENT UPON FINANCING. BE SURE YOU HAVE FINANCING ARRANGED, IF NECESSARY, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

ACREAGE:  The acreages listed in this brochure are estimates taken from the county assessor’s records, FSA records and/or aerial photos.

CLOSING:  The closing shall be on or before January 20, 2023 and no later than January 31, 2023.  The Sellers have the choice to extend this date if necessary.

POSSESSION:  Possession of land will be at closing, subject to the tenant’s rights. Possession of the buildings with be at closing.

REAL ESTATE TAXES:  The Sellers will pay real estate taxes for 2022 due 2023.  Buyer will be given a credit at closing for the 2022 real estate taxes due 2023 and will pay all taxes beginning with the spring 2023 installment and all taxes thereafter.

DITCH ASSESSMENT:  The buyer will pay the Spring 2023 ditch assessment and all ditch assessments thereafter. The Buyer is responsible for the upcoming reconstruction cost of the Hurst-Hahn-Frybarger-Stevens Ditch. The approximate cost is $36 per acre to be assessed over 3 years.

SURVEY: The Sellers reserve the right to determine the need for and type of survey provided.  If an existing legal description is adequate for title insurance for the tract, no new survey will be completed.  If the existing legal description is not sufficient to obtain title insurance, a survey will be completed, the cost of which will be shared 50/50 by the Sellers and the Buyer(s).  The Sellers will choose the type of survey to be completed and warrant that it will be sufficient to provide an owner’s title insurance policy for the tract.  If a survey is completed, the purchase price for the surveyed tract will be adjusted, up or down, to the exact surveyed acres.  The price per acre will be the auction price bid for the tract, divided by the tract acreage estimated in the auction brochure.

FARM INCOME:  Seller will retain the 2022 farm income.

DEED:  The Sellers will provide a General Warranty Deed at closing.

EVIDENCE OF TITLE:  The Sellers will provide an Owner’s Title Insurance Policy to the Buyer(s).  Each Buyer is responsible for a Lender’s Policy, if needed.  If the title is not marketable, then the purchase agreement(s) are null and void prior to the closing, and the Broker will return the Buyer’s earnest money.

BUYER’S PREMIUM: The buyer’s premium is 1% of the purchase price.

ZONING AND EASEMENTS: Property is being sold subject to any and all easements of record. Property is subject to all state and local zoning ordinances.

AERIAL PHOTOS, Images and Drawings: are for illustration purposes only and not surveyed boundary lines unless specified

MINERAL RIGHTS:  All mineral rights owned by the Sellers will be conveyed to the Buyer(s).

PROPERTY INSPECTION:  Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigation, inquiries and due diligence concerning the property.  Further, Sellers disclaim any and all responsibility for bidder’s safety during any physical inspections of the property.  No party shall be deemed to be invited to the property by HRES or the Sellers.

AGENCY:  Halderman Real Estate Services Inc., Russell D. Harmeyer, Auctioneer, and their representatives, are exclusive agents of the Sellers.

DISCLAIMER:  All information contained in this brochure and all related materials are subject to the Terms and Conditions outlined in the purchase agreement.  This information is subject to verification by all parties relying upon it.  No liability for its accuracy, errors or omissions is assumed by the Sellers or HRES.  All sketches and dimensions in this brochure are approximate. ANNOUNCEMENTS MADE BY HRES AND/OR THEIR AUCTIONEER AT THE AUCTION DURING THE TIME OF THE SALE TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIALS OR ANY OTHER ORAL STATEMENTS MADE.  The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Sellers or HRES. No environmental audit has been made, nor will one be made. Except for any express warranties set forth in the sale documents, Buyer(s) accepts the property “AS IS,” and Buyer(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Sellers and HRES make no warranty or representation, express or implied or arising by operation of law, including any warranty for merchantability or fitness for a particular purpose of the property, or any part thereof, and in no event shall the Sellers or HRES be liable for any consequential damages.  Conduction of the auction and increments of bidding are at the direction and discretion of HRES and/or the auctioneer.  The Sellers and HRES 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 HRES and/or the auctioneer are final.