Terms & Conditions:

PROCEDURE

: The property will be offered at oral auction. There will be open bidding during the auction as determined by the Auctioneer.

DOWN

PAYMENT

: $2500 down payment on the day of auction. 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.

EVIDENCE

OF

TITLE

: Seller shall provide a title insurance policy in the amount of the purchase price.

DEED

: Seller shall provide a Warranty Deed(s).

CLOSING

: The balance of the real estate purchase price is due at closing, which will take place approximately 30 days after the auction.

POSSESSION

: Possession is at day of closing.

REAL

ESTATE

TAXES

: The Real Estate Taxes shall be Pro-Rated to date of closing. Buyer to pay all taxes thereafter. Buyer(s) to pay all ditch assessments after the 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. Inspection dates have been scheduled & will be staffed w/ auction personnel. 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.

ACREAGE

: All property acreages, dimensions, & proposed boundaries are approximate & have been estimated based on current legal descriptions and/or aerial photos.

SURVEY

: Any need for a new survey shall be determined solely by the Seller. Seller and 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.

AGENCY

: Schrader Real Estate & Auction of Fort Wayne, 

LLC

. & its representatives are exclusive agents of the Seller.

DISCLAIMER

 & 

ABSENCE

OF

WARRANTIES

: All information 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 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 & 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

.