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PRIME COMMERCIAL LAND AUCTION
Sealed Bid Auction

Prime Commerical Real Estate Auction

COMMERCIAL REAL ESTATE

AUCTION

AUCTION LOCATION:
9212 Lima Road, Fort Wayne, Indiana

-SELLING ABSOLUTE ABOVE $60K-

SEALED-BID DEADLINE:
FRIDAY, JUNE 12^TH @ 5:00 P.M.

Inspection Date: By Appt. Only!

· Prime Frontage on Highway 3 (Lima Road)

· CM3 Zoning

· 1,250 sq. ft. steel construction building

· Great Investment Opportunity

Seller: Hade

Auction Manager: Adam R. Olson

AUCTION TERMS & CONDITIONS:

SEALED BID MATERIALS: A SEALED BID AND PROPERTY INFORMATION/BIDDER'S PACKET has been prepared which provides general instructions and contains basic property information and all forms necessary to submit a sealed bid, including legal description, Real Estate Purchase Agreement, title report and property details. The package may be ordered from CHARLESTON AUCTIONS., 433 COUNCIL DRIVE, FORT WAYNE, IN 46825, call (260) 373-0850. Prospective bidders are advised to review all information available from Auction Company, seller, and other sources prior to submitting an offer to purchase. Materials provided to bidders are for informational purposes only and may not be relied upon. All sketches and dimensions in the brochure are approximate. It is highly recommended and encouraged that each bidder independently verify all information and perform his/her own physical inspection of the property. All information contained in the sale brochure and any related materials are subject to the terms and conditions outlined in the Purchase Agreement.
PROCEDURE: Sealed Bids shall be submitted on the property by June 12^th at 5:00 PM (Eastern Standard Time). Property will sell to the highest bidder above $60,000.00.

BUYER’S PREMIUM: There will be a 4% Buyer’s Premium added to the high bid to determine the purchase price.
CLOSING: Closing shall occur on or before July 10^th, 2009.
REAL ESTATE TAXES & ASSESSMENTS: The Real Estate taxes shall be prorated to the day of closing.

SURVEY: A new survey will be made where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Buyer (s) and Seller will share survey expense 50:50. Combination purchases will receive a perimeter survey only.

POSSESSION: Possession of the property at closing.

TITLE: Owner shall furnish Buyer an owner's policy of title insurance in the amount of the purchase price, insuring title to the Property subject to easements, restrictions and agreements of record and apparent, and all matters which would be disclosed by an accurate survey or physical inspection of the Property. A preliminary Title Insurance policy will be available in the Bidder's packet.
CONDITION: Auction Company, seller and their respective officers, employees, and agents offer the property in an "as-is, where-is condition, with all faults. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, including without limitation environmental and physical condition of the Property.
OFFER REQUIREMENTS: All offers must be sealed and the name and address of the offering party must appear on the outside front of the envelope. Offers must be in writing on the appropriate Purchase Agreement provided by the Auction Company in the Bidder's Packet and must be received by CHARLESTON AUCTIONS, 433 COUNCIL DRIVE, FORT WAYNE, IN 46825 by 5:00 P.M. on Friday June 12^th, 2009. Bidder may deliver or use overnight delivery service. Bids to be notified by Monday June 15^th prior to 5:00 PM. As long as the minimum reserve price of Sixty Thousand Dollars ($60,000.00) is met the property will be sold.
ALL OFFERS MUST BE ACCOMPANIED BY:

(a) Real Estate Purchase Agreement. The Real Estate Purchase Agreement must be properly completed and signed. Bidders should carefully review the Real Estate Purchase Agreement to be used and any exhibits and addenda to the Real Estate Purchase Agreement.
(b) A cashier's check for ten percent (10%) of bid price. Check must be payable to "CHARLESTON REAL ESTATE.” The check will be deposited only if bid is accepted. Checks submitted with unacceptable bids will be returned within three (3) days after the bids are rejected, but no later than Friday June 19^th ,2009. Your bidding is not conditional upon financing, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

AGENCY: Charleston Real Estate / Charleston Auctions, Inc. and its representatives are exclusive agents of the Seller.
OFFER AND ACCEPTANCE: The Seller reserves the right to request a "Best and Final Offer". Officers, employees and agents offer the property in an "as is, where is condition, with all faults". Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquires, and due diligence concerning the property, including without limitation environmental and physical condition of the property.

Sale Location:
9212 Lima Road, Fort Wayne, IN

Sale Date and Time:
Friday, June 12th Beginning @ 5:00 p.m.

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