Terms & Conditions:

PROCEDURE: The property will be offered as THREE (3) individual tracts, any combination of tracts & as a total 1.50+/- acre unit. There will be open bidding on all tracts & combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations & 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, & 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 & 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 Special Warranty Deed(s).

DEED RESTRICTIONS: The following deed restrictions shall apply: All homes must be built to the Indiana 1 & 2 Family Dwelling Code. (This would exclude all mobile homes & 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 Allen County Health Department.

CLOSING: The balance of the real estate purchase price is due at closing, which is targeted to take place approximately 45 days after the auction.

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, & due diligence concerning the property. Private showing(s) can be scheduled w/ the Auction Manager. Further, Seller disclaims any & 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) & ACREAGE: All tract map(s), tract acreage, dimensions & proposed boundaries are approximate & have been estimated based on current legal descriptions and/or aerial photos. They are not provided as survey products & are not intended to depict or establish authoritative boundaries or locations.

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. The seller & successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Seller's option & sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

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

CITY SEWERS CAPACITY: Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & due diligence concerning the city sewers capacity. The info contained in this brochure is subject to verification by all parties relying on it. Contact Stephanie at Fort Wayne City Utilities & Engineering @ (260) 427-1161 or Matthew Konicek, Design Manager for Westwood Fairway Area WMR at (260) 427-1239 to inquire about work order #66862 & further details on an upcoming project in the immediate area.

POTENTIAL ACCESS TO WEST JEFFERSON BLVD: Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & due diligence concerning access to West Jefferson Boulevard. The info contained in this brochure is subject to verification by all parties relying on it. Contact Nick Jarrell, Manager of Right of Way & Landscape Services, Fort Wayne Public Works @ (260) 427-2721 for all questions concerning potential access.

AGENCY: Schrader Real Estate & Auction of Fort Wayne, LLC & its representatives are exclusive agents of the Seller.

DISCLAIMER & ABSENCE OF WARRANTIES: All info contained in this brochure & all related materials are subject to the terms & conditions outlined in the Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, & no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & due diligence concerning the property. The info 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. The conduct of the auction & increments of bidding are at the direction & discretion of the Auctioneer. The Seller & 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 INFO, CORRECTIONS & CHANGES: Please arrive prior to the scheduled auction time to inspect any changes or additions to the property info.