118+/- ACRES WITH IMPROVEMENTS

The undersigned Auction Company has been authorized to offer for sale at public auction the Real Estate belonging to the Estate of Mary Pfingston and to James & Arline Taylor, located in Section 21 of Marrs Township, Posey County, Indiana.

REAL ESTATE:  The Real Estate consists of approximately 118 +/- acres and improvements located in Section 21 of Marrs Township, Posey County, Indiana, at the corner of South Ford Road and Darnell School Road, midway between Evansville and Mt. Vernon.

TRACT 1

Tract 1 consists of approximately 12.5 +/- acres and is nearly all wooded.  Tract 1 has road frontage on Ford Road and on Darnell School Road.  The tract is improved with the old Darnell School, a brick structure in need of restoration.  Other improvements include a 1900 constructed 1½-story wood frame house consisting of 2,116 sq. ft.  The house has five (5) rooms including three (3) bedrooms and one (1) bath.  An unattached garage and several out buildings are also on the property.

TRACT 2

Tract 2 consists of approximately 67 +/- acres and has road frontage on South Ford Road.  Tract 2 is level and nearly all tillable. The primary soil types are Rahm silt loam, Newark silty clay loam, and Woodmere silt loam. There are no improvements.

TRACT 3

Tract 3 consists of approximately 20 +/- acres with road frontage on South Ford Road.  Tract 3 is level and nearly all tillable.  The soil types are Rahm silt loam and Woodmere silt loam.  There are no improvements.

TRACT 4

Tract 4 consists of approximately 20 +/- acres with road frontage on South Ford Road.  Tract 4 is nearly all tillable.  The topography is level with the primary soil type being Rahm silt loam.  There are no improvements.

PROCEDURE: The Real Estate will be offered in four (4) individual tracts, in combinations of tracts, and in the entirety.  Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer.  All decisions of the Auctioneer are final.

DOWN PAYMENT: A 10% down payment is due on the day of the auction with the balance due at closing.  The down payment may be 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: Successful bidder(s) will be required to enter into a Purchase Agreement at the auction immediately following the close of the auction.  All final bid prices are subject to the Sellers′ acceptance or rejection.

BUYER’S PREMIUM: A 10% buyer’s premium will be added to the high bid to determine the contract sale price.

DEED: Sellers shall provide a Personal Representative Deed (Pfingston) and a General Warranty Deed (Taylor) conveying title to the property.

CLOSING: The balance of the purchase price is due at closing which will take place within 30 days of the presentation of insurable title.

POSSESSION: Possession will be at closing and subject to the farm tenant's 2010 lease on the farm land.

REAL ESTATE TAXES: The real estate taxes will be the responsibility of the Buyer beginning with the taxes due and payable in November 2010 and thereafter.   

ACREAGE: All tract acreages, dimensions and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.  Buyer should make his own independent determination of acreage prior to bidding.

SURVEY: If a survey is deemed necessary, the cost of the survey shall be split 50/50 between the Seller and the Buyer.

MINERALS: Sellers shall convey all rights they own.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this ad and all related materials are subject to the terms and conditions outlined in the Purchase Agreement, which shall take precedence.  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 Seller or WILLIAM WILSON AUCTION & REALTY, INC., including, but without limitations to fitness for a particular use, physical condition, any specific zoning classification, title, location of utilities, assurance of building permits, driveway permits, or water and septic permits. All sketches and dimensions are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property.

PROPERTY LOCATION: This Real Estate is located at the corner of South Ford Road and Darnell School Road.

DIRECTIONS: From Highway 62 between Mt. Vernon and Evansville, turn south onto Ford Road.  Proceed 2 ½ miles.  Watch for signs.

AUCTION LOCATION: The auction will take place at 6:00 p.m. CST on Wednesday, March 10, at "The Auction Center" in New Harmony, Indiana.

SHOWINGS: Wednesday, March 3, 4:00-5:00 p.m. CST, or call the Auction Company for a private showing.

AUCTIONEER’S NOTE: Plan now to attend this outstanding offering of farm and recreational land in the Marrs Township area.

OWNERS: Estate of Mary Pfingston

                    James & Arline Taylor

All announcements the day of the auction take precedence over printed material or any other oral statements made.