Indiana, | 576 acres | Auction Properties

576+/- ACRES W/CATTLE BARN & CORRAL

OFFERED IN 8 TRACTS

10503 N CR 465 E – LAMAR, IN (CHRISNEY)

THURSDAY, FEBRUARY 27TH @ 11:00 AM CST

PROPERTY LOCATION: From the intersection of new Hwy 231 & Hwy 70, go north apx. 2 miles to CR 1000 N, go east 2.6 miles to CR 465 E, then go north to the property.

From Boonville – take Hwy 62 east, turn right onto old Hwy 231 at Waniger’s Auto Truck Center, go east on CR 1000 N, then go north on CR 465 E to the property.

AUCTION LOCATION: Spencer County Youth & Community Center (1101 E. State Road 70 – Chrisney, IN 47611)

REAL ESTATE: The real estate consists of 2 farms comprised of tillable acreage, pasture, woodlands & recreational land. According to FSA records, apx. 344.68 acres are cropland. Timber has been harvested from the property in 1996 & in Fall 2012 / Spring 2013.

OSKIN FARM

Located on the north side of CR 1100 N, Tracts 1-3 contain 129+/- acres of tillable land and woodland with rolling to hilly topography. FSA records call for 89.94 acres of cropland. In 2013, the tenant farmer planted apx. 50 acres.

Tract 1: consists of 80+/- acres with creek bottom land. CR 700 E is the eastern property line.

Tract 2: consists of 29+/- acres with woods on the northern end.

Tract 3: consists of 20+/- acres with open tillable land & woods.

AGNEW FARM

Located on the south side of CR 1100 N, Tracts 4-8, contain 447+/- acres of tillable land, woodlands & pasture with rolling to hilly topography. The livestock headquarters is located on this farm.

Tract 4: consists of 51+/- acres. This tract of rolling land, is mostly tillable & has good accessibility with CR 456 to the east & CR 1100 to the north.

Tract 5: consists of 174+/- acres with CR 465 E as the southern & western property line. Boasting good pastureland, Tract 5 makes an excellent headquarters for the livestock operation. This tract features a pole barn, corral, sorting pens & concrete silo. By means of an easement, water for the livestock operation is drawn from the lake on Tract 8.

Tract 6: consists of 121+/- acres with access from CR 1100 N. Primarily hilly & wooded, this tract is perfect hunting & rec land.

Tract 7: consists of 45+/- acres with access from CR 465E. This tract is improved with a 23’ x 64’ pole barn open to the east & a corn crib w/lean-to. This tract has hilly topography with hay land, abundant water for wildlife & a livestock pond.

Tract 8: consists of 55+/- acres and is encumbered by an agreement allowing the purchaser of Tract 5 to draw water from the lake. In addition, the lake on Tract 8 provides water to the home to the north. An electric meter and small pump house are located on this tract. With the nice lake, this tract is ideal hunting & rec land.

SHOWING: Sunday, February 16th from 2 to 4 pm. Representatives will be located at the Main Buildings on Tract 5 on showing day. Showings at other times can be arranged by calling the auction company at 812-474-6100.

BUYER’S PREMIUM: A 5% Buyer’s Premium will be added to the high bid amount to determine the Contract Purchase Price.

TERMS: A non-refundable 10% deposit will be required on the day of the auction with the balance due within 45 days of delivery of insurable title to purchaser. Purchaser will assume the real estate taxes due & payable in Nov. 2014. Any closing fee charged by a title company or escrow agent to close the transaction will be split evenly between buyer & seller. Real estate will sell subject to the owners’ approval.

POSSESSION: For Tracts 1-4 & 6-8, possession will be at the final closing. For Tract 5, possession will be May 10th, 2014.

MINERALS: According to drilling reports, which are available for inspection, 4 coal veins run through the property. Records indicate that there are 616,000 tons of coal on the Oskin farm & 542,000 tons of coal on the Agnew farm. Grantor RESERVES unto itself, and EXCEPTS from this conveyance all COAL, fire clay, shale & related solid minerals, and all limestone or other stone or solid minerals lying 200 feet or deeper below the surface of the above described real estate, and also RESERVES unto itself and EXCEPTS from this conveyance all OIL & GAS and any other petroleum on liquid or gaseous hydrocarbon product that lies in or under or may be produced from the above described real estate, together with the right to lease and remove the same except by strip mine method.

SELLER: Greenwell Heirs, LLC