253± Acre Land Auction

METHOD OF SALE: AcrePro Indiana, LLC will offer 253.628 acres, more or less, of real property located in Carroll and Clinton County, Indiana, at an online/live public auction on November 22, 2022 at 6:00 PM EST at Carroll Jr./Sr. High School, 2362 E SR 18, Flora, IN 46929.  The auction will be open for online pre-bidding November 21, 2022 at 9:00 AM EST through November 22, 2022 at 5:59 PM EST. The property will be offered in seven (7) individual tracts, in combination, or as a total 253.628 +/- acre 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 winning bidder (“Winning Bidders”) and Sellers. The auctioneer will settle any disputes as to bids and his decision will be final. To place a confidential phone bid, please contact Kyle Rule at (765)586-3428 at least two days prior to the sale.

UPON CONCLUSION OF THE AUCTION: The Winning Bidder(s) will be required to execute, without modification, a real estate purchase agreement consistent with the terms and conditions of this auction, either in-person or electronically, and return to AcrePro Indiana, LLC no later than 12:00 PM (noon) the day following the auction.  Along with the executed contract, 10% of the accepted bid price must be paid in the form of a wire transfer to Advantage Title (located at 250 Main Street, Suite 550, Lafayette, IN 47901) by 12:00 PM (noon) the following day of the auction with the balance due at closing, to be held in escrow and credited to Buyer(s) as part of the purchase price of the tract. Wire transfer instructions and escrow agreement forms will be provided to Winning Bidder(s) along with the contract after the auction. Winning Bidder(s) are responsible for all wire transfer fees. Winning Bidder(s) who fail to execute and return an executed contract and deliver earnest money by 12:00 PM (noon) the day after the auction are in default and are liable to Seller and AcrePro Indiana, LLC for damages incurred as a result of Winning Bidder(s) default. In the event of Winning Bidder(s) default, Seller may either  (a) declare this contractual agreement canceled, retain Winning Bidder(s) earnest money and resell the tract, via auction or private sale, with Winning Bidder(s) being liable to Seller and AcrePro Indiana, LLC for losses and costs exceeding the amount of retained earnest money or (b) affirm this contractual agreement and if necessary, enforce its specific performance.  For purposes of this section, losses and costs include, but are not limited to holding costs of the property, expenses of both sales, legal fees and incidental damages of Seller and AcrePro Indiana, LLC. Winning Bidder(s) and Sellers agree to indemnify AcrePro Indiana, LLC for any costs, losses, liabilities, or expenses, including attorney fees resulting from AcrePro Indiana, LLC being named as a party to any legal action arising from Winning Bidder(s) or Sellers failing to fulfill any obligations and undertakings as set forth in this contractual agreement.

ACREAGE: All acreages listed are estimates taken from the county assessor’s records, FSA records and/or aerial photos. 

SURVEY: Sellers reserve the right to determine the need for a survey and the 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 Winning Bidder(s) and Sellers. 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. 

YOUR BIDDING IS NOT CONTINGENT UPON FINANCING. BE SURE YOU HAVE FINANCING ARRANGED, IF NECESSARY, AND ARE CAPABLE OF PAYING CASH AT CLOSING. NO CONTINGENCIES: This sale is not contingent on or subject to Winning Bidder’s financing, appraisal, survey or inspections of any kind or any other contingencies as agreed to by bidders at registration prior to bidding.

APPROVAL OF BIDS: Sellers reserve the right to accept or reject any and all bids. 

DEEDS: The Sellers will provide a Corporate Warranty Deed at closing for tracts 1-6 and a Trustee’s Deed at closing for tract 7.

EVIDENCE OF TITLE: Sellers will provide, at their expense, an owner’s title insurance policy to Winning Bidder(s). Each Winning Bidder will be responsible for the cost of a lender’s title policy, if needed. If the title is not marketable, then the purchase agreement(s) are null and void prior to closing, and escrow agent will return earnest money to Winning Bidder(s). 

CLOSING: The closing shall occur on or before December 30, 2022. Should any survey work be needed, closing shall be within 15 days of the finalized survey.  

POSSESSION: Possession of each tract and improvements will be at closing with the exception of the mobile home on Tract 6, which will be delivered on or before 45 days after closing. All personal property presently located in the residence and barns and on the property of Tract 3, and in the outbuildings/sheds and on the property of Tract 6 will be offered for sale at a separate estate auction shortly after this farm auction. Any unsold personal property will remain with the residence and on the property. Anything located within the mobile home belongs to the current renter. Should they be vacated of the mobile home, renter shall have the right to take or leave possessions within.

PROPERTY TAXES: Property taxes will be PRORATED as of the day of closing, and Winning Bidder(s) will assume payment of all tax bills thereafter. Seller will pay Seller’s prorated portion of property taxes for 2022, which are due and payable in 2023, as a credit to Winning Bidder(s) at closing.  Winning Bidder(s) will be responsible for making the payment of the 2022 taxes when due in May of 2023. 

DITCH ASSESSMENTS: Winning Bidder(s) will be responsible for paying 2023 ditch assessments and all assessments thereafter.

FARM INCOME: Seller shall retain all 2022 income from the farm and property leases.  The mobile home located on Tract 6 is occupied by a tenant who is presently paying monthly rent under a verbal agreement that is month to month.  Tenant has been notified by Seller of sale and informed of potential termination upon closing at which time they will be given 45 days to vacate the property and take all of their possessions with them. Winning Bidder(s) of Tract 6 acknowledges and agrees that it is assuming the verbal lease and will assume all responsibilities for notice of lease termination and eviction proceedings, if needed. 

MINERAL RIGHTS: Seller shall convey 100% of the mineral rights owned by Seller, if any. 

ZONING AND EASEMENTS: Sale of property is subject to all state and local zoning ordinances as well as any and all recorded or apparent easements. 

HOME WALK THROUGH: Interested parties will have the opportunity to view the residence located on Tract 3 by appointment only on November 13th, 2022, from 12:00 PM (noon) to 7:00 PM EST, and November 16th, 2022, from 3:00 PM to 8:00 PM EST, or by appointment from November 16th, 2022 to November 21st, 2022. Appointments can be made by contacting Brady Hammond via phone at (765) 480-1219 or via email at brady.hammond@acrepro.com.

AGENCY: AcrePro Indiana, LLC and Jay Allen, Auctioneer, as well as their representatives, are exclusive agents of the Sellers. 

DISCLAIMERS: ANNOUNCEMENTS MADE BY ACREPRO AND AUCTIONEER AT THE AUCTION DURING THE TIME OF THE SALE TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIALS OR ANY OTHER ORAL STATEMENTS MADE. The tracts are being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the tracts or improvements thereon is made by the Sellers, AcrePro or auction company. All sketches and dimensions in this brochure are approximate;  neither Sellers nor AcrePro shall assume any liability for its accuracy, errors or omissions. No environmental audit has been made, nor will one be made. Each prospective bidder is responsible for conducting his/her independent inspections, investigations, inquiries and due diligence concerning the tracts. Except for any express warranties set forth in the sale documents, Winning Bidder(s) accepts each tract “AS IS,” and Winning Bidder(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Sellers and AcrePro 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 tracts, or any part thereof, and in no event shall the Sellers or AcrePro be liable for any consequential damages. Winning Bidder(s) agree to hold AcrePro, its representatives, and the clients they represent harmless with respect to property condition, status, and any other matter regarding the tracts.  

BIDDING AND REGISTRATION INFORMATION BIDDER VERIFICATION: This is an online auction open to the public. All bidders must register with AcrePro at acrepro.auctioneersoftware.com and be approved before they can place a bid in the auction. Bidders must be registered 24 hours before the auction end date in order to place a bid before the auction closes.  Bidders may set a maximum bid prior to the auction date.  All online bids will be signaled to the auctioneer by a representative of AcrePro Indiana, LLC, that will be taking online bids.  

AcrePro Indiana, LLC reserves the right to reject the registration and to preclude or terminate any individual’s bidding activity if it is suspected that a Bidder is conducting illegal or fraudulent activity. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. If the registered bidder’s username is offensive to AcrePro Indiana, LLC or in their sole opinion detrimental to bidding activity, then AcrePro Indiana, LLC reserves the right to delete the bidder from bidding or unilaterally change the username with notification to the bidder. When using the web site you must obey any and all local, state and federal laws. Violations will result in termination of web site use privileges.  Bids may NOT be submitted with or subject to any contingencies, including but not limited to any financial, appraisal or inspection contingencies.

TECHNICAL ISSUES: Neither AcrePro Indiana, LLC, nor the company providing the software will be liable for any technological difficulties or failure of the online bidding system. In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, AcrePro Indiana, LLC reserves the right to extend bidding, continue the bidding, or close the bidding. 

CONDUCT OF THE AUCTION: AcrePro Indiana, LLC and auction company will have complete control over the auction process.  The minimum bid increase will start at $5,000 for Tracts 1 through 6 and $500 for Tract 7; however, AcrePro Indiana, LLC and auction company reserve the right to adjust increments of bidding at their discretion. Sellers and AcrePro Indiana, LLC have the right, at their sole discretion, to postpone or cancel the auction or to withdraw the Property, in whole or in part from the auction, and to modify or add any terms and conditions of the auction sale and to announce such modifications or additional terms and conditions prior to the deadline for bid submission. All decisions of AcrePro Indiana, LLC and/or the auctioneer are final.

AUCTION CONDUCTED BY: Jay Allen, Indiana Auctioneer License #AU01040045