Tract 1: This vinyl sided 3 bedroom, 2 bath manufactured home sits on 1.50 acres m/l. The home has free gas, water well & septic. The home has central air and a gas forced air furnace. A neat and clean home. There is a large pole barn.

$400.00 income from a lease, per year, from the gas company.  $700.00 per month rent income from the home tenant.

FREE GAS NOT IN EXCESS OF 150 M.C.F OF GAS IN ANY CALENDAR YEAR.

PARCEL NUMBER: To be determined.                            LEGAL DESCRIPTION: To be determined.      

REAL ESTATE TAXES: To be determined. POSSESSION FOR THE HOME: April 1, 2012

Tract 2: The property consists of 38.62 acres tillable as per FSA. Buyer may farm this 2012 Farm year.

PARCEL NUMBER: To be determined.       LEGAL DESCRIPTION: To be determined.      

REAL ESTATE TAXES: To be determined. POSSESSION FOR THE FARMLAND: At closing and not before.

Abner Horrall is past tenant farmer.

FOR TRACTS 1 & 2:  PARCEL NUMBER: 42-05-14-200-007.000-001   LEGAL DESCRIPTION: SE1/4 NW1/4 14-5-10 40A

REAL ESTATE TAXES on the property are approximately $762.36 per year with homestead credit, homestead supplement credit and mortgage  exemption. The taxes will be prorated at closing.

TERMS OF REAL ESTATE:  The Successful Bidder will deposit 10% of the contract purchase price (except for exempt entities) at the auction in the form of cash, cashier’s check or approved personal check or company check with bank letter of guarantee (no bank drafts). The Buyer will sign a non-contingent real estate contract with the balance due in 30 days or thereafter within 5 days of presentation of insurable title. The Real Estate will be sold “AS-IS” with no warranty, expressed or implied, but will be free and clear of any liens or encumbrances. An ALTA 2006 Title Insurance Commitment in the amount of the contract price will be supplied to the Buyer by the Seller and Seller shall pay for title search, premium for owner’s policy and cost to correct any title defects. If obtaining a loan, the Buyer shall pay the mortgage policy and recording of necessary documents. The Auction will conclude when the Auctioneer determines that all buyers have made their best and final offers. Anyone desiring to bid must be approved prior to sale by Johnny Swalls. Any statements made by the Auctioneer day of sale or during the sale take precedence over any oral or written heretofore. 

The highest bid will be taken to Judge Gregg for Approval.

BUYER’S PREMIUM:  The Buyer will pay a 6% Buyer’s Premium which will be added to the bid price to arrive at the contract price. The Buyer is only required to pay 10% down, of the contract price, day of sale.

MINERAL RIGHTS:  All coal, fireclay, gas and underlying minerals owned by the Seller (if any) will be transferred to the Buyer. Seller will not warrant title to underlying minerals.

SURVEY INFORMATION:   The Buyer will pay for Survey, if one is needed.

FOR SHOWING, CALL: 812-495-6119 or 1-877-696-5099           

EMAIL: auctions@jswalls.com

ATTORNEY for Grace McKinley: James O. McDonald

648 Walnut Street, Terre Haute, IN 47807

AGENCY: Johnny Swalls Auction, Inc. and its Representatives are Exclusive Agents of the Seller.

AUCTIONEER/BROKER: Col. Johnny Swalls, CAI, AARE, GPPA, CAGA, CREA,

IN AU01026257 PB20803178