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180 Acres Offered in 4 Tracts
Tuesday, November 11, 6:00 pm
Near Russellville, KY · Logan County

Owner: Kokomo Grain Co., Inc.
Contact Sales Manager:
Brad Horrall
(812) 882-7686
(812) 890-8255 (cell)


Request a Brochure:
Mail me this Brochure




Tract Map - Click to enlarge

  • Highly Productive Elk Soils
  • Wooded Land Ideal for Recreation
  • Potential Building Sites
  • Public Water
  • Red River Frontage

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    PROPERTY LOCATION:
    From the south side of Russellville, Ky take Hwy 431 south approximately 12 miles to Hwy 591. At Adairville turn left (east) 3.7 miles to Hwy 765 (Conn Rd). Turn left (north) and continue 3.5 miles to the property on the right.


    AUCTION LOCATION:
    Red River Fish & Game Habitat, 256 James Lake Rd. From the jct of Hwy 431 & Hwy 591 on Adairville turn east on Hwy 591. Go .2 miles to James Lake Rd. turn right and proceed to the auction site.

    PROPERTY DESCRIPTION:

    Tract 1: 15 acres with 11.4 cropland acres fronting Conn Rd (Hwy 765). Public water available, a potential building site improved with a 30' x 50' open face building.
    Tract 2: 53+/- acres with 38.4 cropland acres improved with a single story home.
    Tract 3: 82+/- acres with approximately 56.3 cropland acres, with the balance being wooded, good frontage along Conn Rd. (Hwy 765), 2 tobacco barns, and a potential building site with public water available.
    Tract 4: 30 acres all wooded fronting Conn Rd (Hwy 765). This is an ideal recreational tract fronting Red River.






    AUCTION TERMS & CONDITIONS:

    PROCEDURE: Tracts 1-4 will be offered in tracts, or as a total unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer.
    BUYER'S PREMIUM: A 7% Buyer's Premium will be added to the final bid price and included in the contract purchase price.
    DOWN PAYMENT: 10% of the accepted bid as down payment on the day of auction with balance in cash at closing. The down payment may be made in the form of cash, cashier's check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.
    ACCEPTANCE OF BID PRICES: All successful bidders will be required to enter into Purchase Agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers' acceptance or rejection.
    DEED: Seller shall provide a Warranty Deed.
    EVIDENCE OF TITLE: Seller shall provide an attorney's title opinion showing merchantable title. Title insurance, if desired, will be the buyers' responsibility.
    CLOSING: Closing shall take place 15 days after proof of merchantable title and completion of closing documents.
    POSSESSION: At closing, subject to tenants farm lease for the 2008 crop year. Seller shall retain 2008 farm income.
    REAL ESTATE TAXES: Buyer shall assume the real estate taxes due in 2009. Buyer shall assume 2009 ditch assessments if any. The 2008 real estate tax amount is $1,131.00.
    ACREAGE: All acreage is approximate and has been estimated based on current legal descriptions and/or aerial photos.
    SURVEY: AT THE SELLER'S OPTION, the Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller, cost of the survey will be split 50:50 between Buyer(s) and Seller. The type of survey performed shall be at the Seller's option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres. Tracts bid in combination shall receive a perimeter survey only.
    AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.
    DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

    © 2008 Schrader Real Estate & Auction Co. of Fort Wayne, Inc.