Creditor Seized Farm Auction

39.82 Acres - Lagrange County

Offered in 2 Tracts with NO RESERVE on Tract 1

5200 E. 300 S, Wolcottville, IN.

MAP TO PROPERTY

Tues. Feb. 9 @ 6:00 pm

Auction held at Topeka Branch Library

133 N. Main St., Topeka IN.

Open Houses: Sun. Jan. 31 (2-3) & Tues. Feb. 2 (5-6)

Tact 1

Sold at ABSOLUTE AUCTION with no reserve consist of 10 acres of land with approx. 7.5 tillable.

Tract 2

Consists of 29.82 acres having a 2100 sq. ft. 3 bedroom ranch home that is approx. 1 year old with attached 31’ x 36’garage, and a 1500 sq. ft. walk out basement. Also a 30 x 60 bank barn. There is approx. 13.5 acres of tillable land, balance in woodland and home site.

Pole Barn

Woodburning Furnace

Inspect, Arrange Financing, Bid Your Price.

PROCEDURE:

This property will be offered in 2 individual tracts, and as one unit totaling 39.82 acres. There will be open bidding on all tracts during the auction as determined by the Auctioneer. Bids on tracts and the whole unit may compete.

TERMS:

10% down the day of Auction, balance due in full upon delivery of the merchantable title and deed free and clear of all liens and encumbrances except as stated herein and subject to easements or restrictions of record. A 5% buyer's premium will be added to final bid and included in the total contract price. If you are the high recorded bidder on any individual tract or combination tracts you must stay for the entire auction. Tract 1 will be offered with no reserve and Tract 2 bids will be accepted on the Real Estate subject to the Sellers approval.

CONDITIONS:

Your bidding is not conditional upon financing, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

TAXES:

Buyer shall assume and pay real estate taxes due and payable in May 2011.

POSSESSION:

One day after closing subject to tenants rights.

IMPROVEMENTS & FIXTURES:

The Real Estate includes all improvements and permanent fixtures used in connection with it, (excluding any satellite receiving station or dish, components and wiring) now in or on the Real Estate.

SURVEY:

Buyer will pay for any new survey for any parcel where there is no existing legal description or where new boundaries are created by the tract division at the auction or if seller determines a new survey if needed. Seller will furnish only one title policy on any combination of parcels that are purchased as one unit. Tract acreage's are estimated from aerial view. Closing prices shall be adjusted to reflect any differences between advertised and surveyed acres on Tract 1. Any offers accepted by the seller herein will be subject to the final approval of the Lagrange County Planning Commission. If above conditions are not approved, this agreement shall become null, void and of no force and effect and earnest money shall be refunded to buyers.

AGENCY DISCLOSURE & GENERAL OFFICE POLICIES:

Ness Bros. Auction Staff (Auctioneers and Ringmen) will represent the Seller exclusively unless Ness Bros. Agent has a signed buyer agency agreement with buyer, then that agent has a limited agency with buyer.

DISCLAIMER & ABSENCE OF WARRANTIES:

AAll information contained in the 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 co. 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.

CLOSING:

Balance of purchase price is due in cash at closing, which will take place within 30 days of proof of insurable title. The fee charged by any closing agent (including an attorney acting as a closing agent for both parties, or Buyer's lender acting in such capacity) for closing services shall be paid equally by the parties. Each buyer will be responsible for paying a $195.00 transaction fee to be collected at closing.

SPECIAL NOTE:

The top bidder will be required to enter into a written agreement to purchase improved real estate contract irrevocable with earnest money deposited at the auction site immediately following closing of the auction. By executing this agreement, buyer is making an offer to seller, buyer's offer expires at 11:59 P.M. (local time) February 16, 2010 unless seller timely accepts it.

THANK YOU for your interest in this offering. If you have any questions, please feel free to talk to one of our representatives.

For A Free Recorded Message Call 1-877-297-7407 ID 6000

STATEMENTS MADE THE DAY OF AUCTION TAKES PRECEDENCE OVER PREVIOUS PRINTED MATERIALS OR ANY ORAL STATEMENTS

Farm Credit Services - Seller