99.92+/- Acres of Productive cropland in a strong basis area located in Delaware Co., Indiana.
TRACT 1: 94.92+/- Acres 89.87+/- Tillable | 4.21+/- Woods
PLEASE READ AND REVIEW THE REAL ESTATE AUCTION TERMS THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS, DO NOT BID. BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH HEREIN AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE PROPERTY UNDER THE FOLLOWING TERMS AND CONDITIONS:
ONLINE BIDDING: AUCTION DATE / TIME: Bidding begins: February 23, 2022 @ 8:00 AM ET; Bidding closes: February 23, 2022 @ 6:00 PM ET (**See AUCTION END TIMES). Bidding will be conducted online at www.halderman.com. Alternatively, to place a confidential phone bid or to make other arrangements for bidding, please contact Halderman Real Estate Services, Inc. via Chris Peacock at 765-546-0592, Lauren Peacock at 765-546-7359 or AJ Jordan at 317-697-3086 at least two days prior to the auction. Final bids are subject to Seller’s acceptance or rejection, and the bidder with an accepted offer (the “Winning Bidder”) will be immediately notified by Halderman Real Estate Services, Inc.
MULTI-PARCEL AUCTION: The bidding will be conducted according to the Multi-Parcel Auction Method. You may bid on any tract or combination of tracts or the entire property. Bidding will remain open on individual tracts and on combinations until the close of the auction.
UPON CONCLUSION OF THE AUCTION: The Winning Bidder will be sent a Real Estate Purchase Agreement in a form as can be found on Halderman’s website (the “PSA”) to print and is required to fully and correctly complete and properly sign without any modifications. Winning Bidder is to return the completed, signed PSA to Halderman Real Estate Services, Inc. by email, fax, certified mail or delivered in person by 4:00 PM of the day following the auction. Along with the completed, signed PSA, the Winning Bidder will be required to send the specified non-refundable earnest money deposit as stated in the Real Estate Purchase/Sale Terms hereunder. This non-refundable earnest money deposit will be held in escrow by the Title Company until closing and shall be credited to the Winning Bidder as part of the purchase price of the property and/or governed by the terms of the PSA. Wire transfer instructions and escrow agreement forms will be provided to the Winning Bidder along with the contract after the auction. Winning Bidder shall be responsible for all wire transfer fees at the Closing.
Winning Bidder(s) not executing and returning the completed PSA and earnest money deposit by 4:00 PM the day after the auction will be considered in default. Such default by the Winning Bidder will result in that Winning Bidder’s liability to both the Seller and Halderman Real Estate Services, Inc. Seller shall have the right to (a) declare this contractual agreement cancelled and recover full damage for its breach, (b) elect to affirm this contractual agreement and enforce its specific performance or (c) resell the property either publicly or privately and in such an event, this original Winning Bidder shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding costs of the property, the expenses of both sales, legal and incidental damages of both the Seller and Halderman Real Estate Services, Inc. In addition, Halderman Real Estate Services, Inc. also reserves the right to recover any damages separately from the breach of the Winning Bidder.
REAL ESTATE PURCHASE/SALE TERMS:
• TERMS OF SALE: Non-refundable 10% earnest deposit down with the executed PSA, balance due at closing. Your purchase is not subject financing.
• BUYER’S PREMIUM: A Buyer’s Premium equal to one and one-half percentage (1.5%) of the winning bid amount will be charged to the Winning Bidder and added to the bid amount to arrive at the purchase price.
• DATE OF CLOSING: The closing will take place on or before March 31, 2022. The Seller have the choice to extend this date if necessary.
• POSSESSION: Possession of the land will be at closing, subject to tenant rights of a farm operator under a certain Farm Lease between Seller and a farm tenant which includes additional other farmlands and expires on or before 12/31/2022. Winning Bidder for Tract 1 will be given a credit at closing for the 2022 cash rent in the amount of $23,600, although the Farm Lease will not be assigned to any Winning Bidder at closing, but rather shall remain in place with Seller retaining all rights and obligations of the Landlord under the Farm Lease until its expiration on or before 12/31/2022.
•REAL ESTATE TAXES: The real estate property taxes will be prorated to the day of closing.
• NO CONTINGENCIES: Winning Bidder’s obligations are 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.
• SURVEY: In the event Tract 1 and Tract 2 are sold to different Winning Bidders, there will be a Survey of the tracts, the costs of which shall be shared 50% to Seller and 25% each to the Winning Bidders for Tracts 1 and 2. In the event of a single Winning Bidder for both tracts combined, 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 the tract, no new survey will be completed. If the existing legal description is not sufficient to obtain title insurance, a survey may be completed, the cost of which will be shared 50/50 by the Seller and the Winning Bidder(s). 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 price bid for the tract, divided by the tract acreage estimated in the auction brochure.
• TITLE: Winning Bidder is entitled to, and the Seller will provide, clear, insurable title for property and a General Warranty Deed upon full payment.
• TITLE COMPANY / ESCROW AGENT: Indiana Title Company (the “Title Company”), 200 E. Washington Street, Muncie, Indiana 47305, ATTN: James W. Trulock, President (765) 254-3727, will act as closing escrow agent, conduct the Closing, and issue the Owner’s Title Insurance Policy.
• 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.
• AGENCY: Halderman Real Estate Services, Inc. is the Agent and Representative of the Seller.
• CONDITION OF PROPERTY: Property is sold 'AS IS, WHERE IS' condition. Halderman Real Estate Services, Inc, the Seller nor their representatives, agents, or employees make express or implied warranties or representations of any kind. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property prior to bidding on the subject property. All information presented in the brochure, website, and all other mediums is subject to verification by all parties relying on it. All sketches and dimensions are approximate. No liability for its accuracy, errors, or omissions is assumed by the Seller, Halderman Real Estate Services, Inc. or their Agents or Representatives. Buyer and or Winning Bidder agrees to hold harmless and indemnify Halderman Real Estate Services, Inc. and their Agents and their Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc., arising from the auction and/or this contemplated real estate transaction.
• DISCLAIMER: All information included herein was derived from sources believed to be correct but is not guaranteed.
• NEW DATA, CORRECTIONS, and CHANGES: Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.
BIDDING AND REGISTRATION INFORMATION
BIDDER VERIFICATION: Bidding rights are provisional, and if identity verification is questionable, Halderman Real Estate Services, Inc. has the right to reject the registration, and bidding activity will be terminated. The Seller and Halderman Real Estate Services, Inc. reserve the right to preclude any person from bidding if there is any question as to the person's credentials, mental fitness, etc. 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 user name is offensive to Halderman Real Estate Services, Inc. or in their sole opinion detrimental to Bidding Activity, then Halderman Real Estate Services, Inc. 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.
**AUCTION END TIMES: Halderman Real Estate Services, Inc. online only auctions are timed events and all bidding will close at specified time. However, our auctions also have what is called an 'Auto Extend' feature. Any bid placed within the final 5 minutes of an auction results in the auction automatically extending 5 additional minutes. The bidding will extend in 5-minute increments from the time the last bid is placed until there are no more bids, and the lots sit idle for 5 minutes. This automatic extension is intended as a best effort toward the goal of ensuring the auction does not close until all bidding parties are done bidding, with no bidding party outbid at the last second without having another opportunity to bid again.
TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, Halderman Real Estate Services, Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software, nor Halderman Real Estate Services, Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
CONDUCT OF THE AUCTION: The minimum bid increase will be $2,500. Halderman Real Estate Services, Inc. reserves the right to reject any and all bids for any reason and also reserves the right to cancel this auction or remove any item or lot from this auction prior to the close of bidding. All decisions of Halderman Real Estate Services, Inc. are final.
YOUR BID ON THIS AUCTION INDICATES BOTH AN UNDERSTANDING AND AN ACCEPTANCE OF THE TERMS OF THIS CONTRACTUAL AGREEMENT BETWEEN YOURSELF AND BOTH THE SELLER AND HALDERMAN REAL ESTATE SERVICES, INC. AND THAT YOU, AS THE BIDDER, ARE PREPARED TO PURCHASE THE PROPERTY UNDER THE TERMS AND CONDITIONS OF THIS AUCTION.
Muncie, Indiana 47302