Total Acres 114.40

Tracts 1

Type of Sale Auction

Farm Name Milco Management, Inc.

Status closed

HLS Number RAJ - 11618

Key Features Productive Farmland

Location Rockcreek Township, Wells County, IN


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Farm Name Milco Management, Inc.

Type of Operation Farm

Current Zoning Agricultural

School System Northern Wells Community Schools

Annual Taxes $2,405.44

Ditch Assessment $84.80

Topography Level

Soil Eldean Variant Silt Loam, Rawson Fine Sandy Loam, Rensselaer Loam

Building Description N/A

Region IN

General Location Northwest of Bluffton, IN

Legal Description 114.39+/- acres located in part of the N 1/2 of S20, T27N, R11E, Rock Creek Twp, Wells County, State of Indiana.

Start Auction Date July 28, 2015

Start Auction Time 6:30 PM ET

Auction Location Wells County 4-H Park: 1240 4-H Park Road, Bluffton, IN 46714

Tillable Acres 99.600

Non-Tillable Acres 14.800

Terms & Conditions METHOD OF SALE: Halderman Real Estate Services, Inc. (HRES, IN Auct. Lic. #AC69200019) will offer this property at public auction on July 28, 2015. At 6:30 PM, 114.4 acres, more or less, will be sold at the Wells County 4-H Park, Bluffton, IN. This property will be offered as one single unit. 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 and the Seller. 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 260-824-3130 at least two days prior to the sale. ACREAGE: The acreages listed in this brochure are estimates taken from the county assessor’s records, FSA records and/or aerial photos. SURVEY: The Seller reserves the right to determine the need for and type of survey provided. If an existing legal description is adequate for title insurance for a 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 Seller and the Buyer. The Seller 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 bid price for the tract, divided by the tract acreage estimated in the auction brochure. 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. APPROVAL OF BIDS: The Seller reserves 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. DEED: The Seller will provide a Corporate Deed at closing. EVIDENCE OF TITLE: The Seller will provide an Owner’s Title Insurance Policy to the Buyer. The Buyer is responsible for a Lender’s Policy, if needed. If the title is not marketable, then the purchase agreement is null and void prior to the closing, and the Broker will return the Buyer’s earnest money. CLOSING: The closing shall be on or about October 5, 2015. The Seller has the choice to extend this date if necessary. POSSESSION: Possession of land will be after the harvest of the 2015 crops. FARM INCOME: Seller will retain all of the 2015 farm income. REAL ESTATE TAXES: Real estate taxes are $2,405.44. The Sellers will pay the 2015 taxes due and payable in 2016. The Buyer(s) will pay the 2016 taxes due and payable in 2017 and all taxes thereafter. DITCH ASSESSMENT: The ditch assessment is $84.80. The Seller will pay the 2015 ditch assessment. The Buyer will pay the 2016 ditch assessment and all assessments thereafter. 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, 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 Seller or HRES. Each prospective bidder is responsible for conducting his/her independent inspections, investigations, inquiries and due diligence concerning the property. 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.