Total Acres 724.41

Tracts 9

Type of Sale Auction

Farm Name PJ Bean, LLC Lawrence Rinehart Farms, Inc.

Status pending

HLS Number AJJ - 12993

Price Sold For $8,838,000.00

Key Features Large Offering of Highly Productive Farmland

Location Burlington Township, Carroll County, IN
Ervin Township, Howard County, IN


View Map

Farm Name PJ Bean, LLC Lawrence Rinehart Farms, Inc.

Type of Operation Building Lot - Farm - Recreational

Current Zoning Agricultural

School System Carroll Consolidated School District, Northwest School District

Annual Taxes 17,114.82

Ditch Assessment 3,724.66

Topography Level To Gently Rolling

Property Address E 250 S, Burlington, IN 46915

Region IN

General Location North and East of Burlington, Indiana 46915 Tract 1: along 200 S. and 525 E ; Tract 2: along 250 S and 525 E ; Tract 3 250 S. SR 29; Tract 4: along 200 S and SR 29; Tract 5: along 300 S and SR 29; Tract 6: along 725 E and 300 S; Tract 7: along 1100 W and 550 N; Tract 8: along 250 N and 1150 W; Tract 9: along 1150 W and 1150 W.

Legal Description A part of Sections 21, 22, & 23, Burlington Township Carroll County, IN an a part of Sections, 6, 19, & 24, Ervin Township, Howard County IN A complete list of the parcel numbers is attached and made a part of this agreement.

Start Auction Date April 04, 2024

Start Auction Time 6:30 PM ET

Auction Location Burlington Community Building 425 East 5th St. Burlington, IN 46915: 425 East 5th St. Burlington, IN 46915

Tillable Acres 682.670

Wooded Acres 17.250

CRP Acres 7.200

Building Site Acres 1.000

Other Acres 16.285

Terms & Conditions METHOD OF SALE: Halderman Real Estate Services, Inc. (HRES, IN Auct. Lic. #AC69200019) will offer this property at public auction on April 4, 2024. At 6:30 PM, 724.405 acres, more or less, will be sold at the Burlington Community Building, 425 East 5th Street, Burlington, IN 46915. This property will be offered in nine (9) tracts as individual units, in combination or as a whole farm. 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(s) and the Sellers. 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 Larry Jordan at (765)473-5849 or AJ Jordan at (317)697-3086 at least two days prior to the sale. APPROVAL OF BIDS: The Sellers reserve 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. Successful bidders must execute purchase agreements on tracts exactly as they have been bid. 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. ACREAGE: The acreages listed in this brochure are estimates taken from the county assessor’s records, FSA records and/or aerial photos. CLOSING: The closing shall be on or before May 17, 2024. The Sellers have the choice to extend this date if necessary. POSSESSION: Possession will be at the completion of the 2024 crop harvest. REAL ESTATE TAXES: The Sellers will pay real estate taxes for 2023 due 2024. Buyer will be given a credit at closing for the 2023 real estate taxes due 2024 and will pay all taxes beginning with the spring 2024 installment and all taxes thereafter. DITCH ASSESSMENT: The Buyer(s) will pay 2024 ditch assessment. CONSERVATION RESERVE PROGRAM: Tract 4 has 7.2 total acres enrolled in CRP. Of those, the contract for 1.4 acres expires in 2025 and the contract for 5.8 acres expires in 2032. The Buyer(s) must enter into a succession contract with the FSA for the remainder of the contract years. If the Buyer(s) fail to fulfill the CRP contract, the Buyer(s) is solely responsible for repayment of all received payments, interest and penalties. SURVEY: The Sellers reserve the right to determine the need for and type of survey provided. If an existing legal description is adequate for title insurance for the 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 Sellers and the Buyer(s). The Sellers 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 price bid for the tract, divided by the tract acreage estimated in the auction brochure. FARM INCOME: Buyer(s) will be given a credit at closing for the 2024 farm income in the amount of $285 per tillable acre based on the tillable acres in the tract(s) purchased. DEED: The Sellers will provide a Warranty Deed at closing. EVIDENCE OF TITLE: The Sellers will provide an Owner’s Title Insurance Policy to the Buyer(s). Each Buyer is responsible for a Lender’s Policy, if needed. If the title is not marketable, then the purchase agreement(s) are null and void prior to the closing, and the Broker will return the Buyer’s earnest money. ZONING AND EASEMENTS: Property is being sold subject to any and all easements of record. Property is subject to all state and local zoning ordinances. AERIAL PHOTOS, Images and Drawings: are for illustration purposes only and not surveyed boundary lines unless specified 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 Inc., Russell D. Harmeyer, Auctioneer, and their representatives, are exclusive agents of the Sellers. BID RIGGING: Bid Rigging is a Federal Felony. Auctioneer will report illegal activity by any person to the FBI for investigation and prosecution. Title 15, Section 1 of the U.S. Code makes any agreement amongst potential bidders not to bid against one another, or to otherwise dampen bidding illegal. The law provides for fines of up to $100,000,000 for a corporate offender and $1,000,000 for an individual, plus imprisonment for up to 10 years. 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 Sellers or HRES. No environmental audit has been made, nor will one be made. 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.