The Virgil Gerkin Farm by Linda Bailey & LeeAnn McHugh – Seller - 340.5+/- Acres, 215.93+/- Tillable, Remainder Classified Forest - Live In Person & Live Online Simulcast Auction

4K Drone Video Link:

https://www.youtube.com/watch?v=HbprQ2ybH48

SELLAFARM

Your Team On The Ground

Sullivan County, Indiana Land Auction

340.5+/- All Contiguous Acres, 215.93+/- Tillable

High Percentage Tillable Fields with Major Area Highways Nearby!

Average Oil Royalty Income of $30,000 Per Year!

All Wooded Classified Forest Tracts Provide Quality Recreational & Timber!

Offered in 6 Tracts!

Live In-Person Auction with Live Online Bidding

Auction Date:

Thursday, December 14th, 2023, 5 PM Eastern

Auction Location: Sullivan Civic Center

344 North Main, Sullivan, IN 47882

LAND LOCATION

All Land is Contiguous! This is Your Opportunity to Buy a Large Section of Ground!

Save Time & Money by Not “Roading” Equipment!

Directional Signs and Full-Color, Multi-Page Brochures posted.

From Shelburn, IN: From Intersection of US Route 41 & Indiana 48: Head West 3.75+/- Mi. to Co. Rd. 325W, South 1 Mi. to Co. Rd. 650N, West .25 Mi. to Southeast Corner of Tract 1.

From Sullivan, IN: From Intersection of US Route 41 & Indiana 154: Head West 1.1+/- Mi to Co. Rd. 200W, North 4.75+/- Mi. to Co. Rd. 600N, West 2+/- Mi. To Land Location.

From Graysville, IN: From Intersection of Indiana 63 & Indiana 154: North 3.5+/- Mi. To Co. Rd. 500N (Dodd's Bridge), East 2.5+/- Mi. to Co. Rd. 400W, North 1 Mi. to Co. Rd. 600N, West .2+/- Mi. to Land Location.

From Hutsonville, IL: Just 13.25+/- Miles! Head East 6 Mi. To Graysville, IN. Follow Above Directions to Land Location.

Tract 1 – 75+/- Acres, 74+/- Acres Tillable, Near 100% Tillable, ALL NHEL

Quick Access to Major Area Highway & Local Grain Terminals!

Latitude: 39.180975 Longitude: -87.474087

Brief Legal: Majority Part of the SW1/4 NW1/4, SE1/4 NW1/4, NW1/4 SW1/4, NE1/4 SW1/4 of Section 36, Fairbanks Township, Sullivan County, Indiana. T9N-R10W. Brief Legal Descriptions are posted to www.sellafarm.com, view anytime.

Access: Direct Access on East Side to W. Co. Rd. 650N.

Soils: ReA Reesville Silt Loam, 0-2% slope, 55.89 Ac., 73%; IoB2 Iona Silt Loam, 2-6% lsope, 10.83 Ac., 14.1%; Ra Ragsdale Silt Loam, 5.14 Ac., 6.7%; AfC2 Alford Silt Loam, 5-10% slope, 3.74 Ac., 4.9%; ReB2 Reeseville Silt Loam, 2-5% slope, 1.01 Ac., 1.3%; Surety Weighted Average Productivity Index (WAPI): 142.6. ALL NHEL. Digital copies of Soil & Topography Maps are posted to www.sellafarm.com, view anytime.

R.E. Estimated Taxes: Majority Part (76 Ac. Out of 90) of Sullivan County Parcel Index Number: 77-03-36-000-008.000-006. Total Estimated Tax Bill for Tracts 1 & 2: $2,383.56. County to Divide Accordingly if Sold Separate. 2023 taxes, due & payable 2024 to be paid by SELLAFARM to buyer(s) as estimated credit on date of closing. Buyer(s) thereafter. Please See www.sellafarm.com for digital copies of the estimated tax bills, view anytime.

Tract 2 – 15+/- Acres, Near All Wooded, Excellent Timber & Recreational Possibilities

Currently Classified Forest Designation through DNR

Latitude: 39.181812 Longitude: -87.478644

Brief Legal: Part of the SE1/4 NE1/4 of Section 35, and Part of the SW1/4 NW1/4 of Section 36, Fairbanks Township, Sullivan County, Indiana. T9N-R10W. Brief Legal Descriptions are posted to www.sellafarm.com, view anytime.

Access: Access to W. Co. Rd. 600N via easement. See Aerial Maps for Path.

Recreational / Timber: This Tract Provides Your Opportunity to Purchase a Near All Wooded Tract of Land. Small to Medium Sized Timber. Multiple Travel Corridors into and Out of the Property. Possible Open Areas to Create Flood Plots. Digital copies of Soil & Topography Maps are posted to www.sellafarm.com, view anytime.

R.E. Estimated Taxes: Majority Part (14 Ac. Out of 90) of Sullivan County Parcel Index Number: 77-03-36-000-008.000-006. Total Estimated Tax Bill for Tracts 1 & 2: $2,383.56. County to Divide Accordingly if Sold Separate. 2023 taxes, due & payable 2024 to be paid by SELLAFARM to buyer(s) as estimated credit on date of closing. Buyer(s) thereafter. Please See www.sellafarm.com for digital copies of the estimated tax bills, view anytime.

Classified Forest: Please Note: This Tract of Land is Being Sold Subject to Classified Forest & Wildland Program Restrictions & Requirements. See www.sellafarm.com for digital copy of General Information regarding “The Classified Forest and Wildland Program” Handout Prepared by the Indiana Department of Natural Resources.

Tract 3 – 60.5+/- Acres, Near 100% Tillable, ALL NHEL

Quick Access to Local Major Highway & Local Grain Terminals!

Latitude: 39.180733 Longitude: -87.482029

Brief Legal: Part of the NW1/4 NE1/4, Part of the NE1/4 NE1/4, Part of the SW1/4 NE1/4, Part of the NE1/4 SE1/4, Section 35, Fairbanks Township, Sullivan County, Indiana. T9N-R10W. Brief Legal Descriptions are posted to www.sellafarm.com, view anytime.

Access: Access to W. Co. Rd. 600N via easement. See Aerial Maps for Path.

Soils: IoB2 Iona Silt Loam, 2-6% slope, 27.05 Ac., 47.7%; ReA Reesville Silt Loam, 0-2% slope, 20.52 Ac., 36.2%; Ra Ragsdale Silt Loam, 5.32 Ac., 9.4%; ReB2 Reesville Silt Loam, 2-5% slope, 1.79 Ac., 3.2%; AfC2 Alford Silt Loam, 5-10% slope, .78 Ac., 1.4%; HkF3 Hickory Silt Loam, 18-35% slope, .57 Ac., 1%; IoA Iona Silt Loam, 0-2% slope, .54 Ac., 1%; HkF Hickory Silt Loam, 25-35% slope, .11 Ac., .2%; Surety Weighted Average Productivity Index (WAPI): 148.8. ALL NHEL. Digital copies of Soil & Topography Maps are posted to www.sellafarm.com, view anytime.

R.E. Estimated Taxes: Part of Sullivan County Parcel Index Number: 77-03-26-000-010.000-006, 77-03-35-000-002.000-006, 77-03-35-000-008.001-006, 77-03-35-000-009.000-006, & 77-03-35-000-010.000-006. Total Estimated Tax Bill for Tracts 3, 4, 5 & 6: $5,937.67. Please Note: this also includes Brick Home & Metal Outbuilding on Tract 6 which is not being sold. County to Divide Accordingly if Sold Separate. 2023 taxes, due & payable 2024 to be paid by SELLAFARM to buyer(s) as estimated credit on date of closing. Buyer(s) thereafter. Please See www.sellafarm.com for digital copies of the estimated tax bills, view anytime.

Tract 4 – 62+/- Acres, Near All Wooded, Excellent Timber & Recreational Possibilities

Rolling Topography With Excellent Views, Steep Hills, Turman Creek is the West Boundary of the Property, Currently Classified Forest Designation through DNR

Latitude: 39.183627 Longitude: -87.487548

Brief Legal: Part of the Section 26 & 35, Fairbanks Township, Sullivan County, Indiana. T9N-R10W. Brief Legal Descriptions are posted to www.sellafarm.com, view anytime.

Access: Access to W. Co. Rd. 600N via easement. See Aerial Maps for Path.

Recreational / Timber: This Tract Provides Your Opportunity to Purchase a Near All Wooded Tract of Land. Small to Medium Sized Timber. Multiple Travel Corridors into and Out of the Property. Possible Open Areas to Create Flood Plots. Signs of Wildlife are Everywhere. Excellent Morel Hunting as Well. Digital copies of Soil & Topography Maps are posted to www.sellafarm.com, view anytime.

Tract 5 – 47+/- Acres, Open Sided Machine Shed Plus Smaller Shed With Newer Roof, Near All Wooded, Excellent Timber & Recreational Possibilities, Rolling Topography With Excellent Views, Steep Hills, Turman Creek is the West Boundary of the Property, Southern Part Currently Classified Forest Designation through DNR, Northern Portion Not Enrolled

Latitude: 39.173138 Longitude: -87.487443

Brief Legal: Part of Section 35, Fairbanks Township, Sullivan County, Indiana. T9N-R10W. Brief Legal Descriptions are posted to www.sellafarm.com, view anytime.

Access: Direct Access to Co. Rd. 600N at Southern Tip of Property, also Access to W. Co. Rd. 600N via easement. See Aerial Maps for Path. Please Note: A Fractional Portion of this Tract lays on the West side of Turman Creek, access via easement from Co. Rd. 500W.

Recreational / Timber: This Tract Provides Your Opportunity to Purchase a Near All Wooded Tract of Land. Small to Medium Sized Timber. Multiple Travel Corridors into and Out of the Property. Possible Open Areas to Create Flood Plots. Signs of Wildlife are Everywhere. Excellent Morel Hunting as Well. Digital copies of Soil & Topography Maps are posted to www.sellafarm.com, view anytime.

Tract 6 – 81+/- Ares, 79.74+/- FSA Tillable Acres, Near 100% Tillable

Quick Access to Local Major Highway & Local Grain Terminals!

Latitude: 39.175125 Longitude: -87.175125

Brief Legal: Part of Section 35, Fairbanks Township, Sullivan County, Indiana. T9N-R10W. Brief Legal Descriptions are posted to www.sellafarm.com, view anytime.

Access: Direct Access on Co. Rd. 600N.

Soils: ReA Reesville Silt Loam, 0-2% slope, 32.93 Ac., 29.1%; ReB2 Reesville Silt Loam, 2-5% slope, 23.50 Ac., 29.1%; Ra Ragsdale Silt Loam, 9.58 Ac., 11.9%; IoB3 Iona Silt Loam, 2-6% slope, 4.25 Ac., 5.3%; IoB2 Iona Silt Loam, 2-6% slope, 3.31 Ac., 4.1%; AfC2 Alford Silt Loam, 5-10% slope, 3.25 Ac., 4.0%; IoA Iona Silt Loam, 0-2% slope, 1.58 Ac., 2.0%; AfC3 Alford Silt Loam, 5-10% slope, 1.56 Ac., 1.9%; HkG Hickory Silt Loam, 35-50% slope, .52 Ac., .6%; HfK3 Hickory Silt Loam, 18-35% slope, .22 Ac., .3%; Surety Weighted Average Productivity Index (WAPI): 141.1. ALL NHEL. Digital copies of Soil & Topography Maps are posted to www.sellafarm.com, view anytime.

FSA Info: Farm No. 478, Tract No. 873 & 881. Corn Base 117.10 Ac., PLC yield 145; Soybean base 96.10 Ac., PLC yield 41; Total Base Ac. 213.20. Digital copy of FSA Maps, FSA 156 EZ & NRSC Classified Forest Survey are posted to www.sellafarm.com, view anytime.

Farm Rights: Buyer(s) to have 2024 Farm Rights. Tenancy Termination has been completed. Copy will be provided to Winning Bidder(s). Seller(s) to Retain 2023 Farm Income.

Classified Forest & Wildland Program: No Residual Income for Being a Part of the Program. The Main Benefit of the Program is your assessed Valuation for Real Estate tax Purposes is Significantly Reduced. Estimate is $14.11 per acre Assessed Value for the Coming Tax Year. This Amount Can / Will Change. Per DNR Guidelines, a few activities cannot take place on the property those include: grazing of livestock, permanent structures, intentional burning unless prescribed under management plan, growing Christmas trees and others. See www.sellafarm.com for digital copy of General Information regarding “The Classified Forest and Wildland Program” Handout from Indiana DNR. If the Property is removed from the Program, the Penalty The New Buyer(s) will incur is the tax liability for the Difference of back taxes for the difference between the reduced assessed amount and the “actual” assessed value through the county for a period of 10 years and a penalty / fee. For Full Information Regarding Classified Forest & Wildland Program, Please Call the Department of Natural Resources (DNR).

Mineral Rights: Buyer to receive all interest in all oil, gas, hydrocarbons & any other minerals owned by sellers if any.

Mineral Rights / Royalty Interest: Buyer(s) to Receive their proportional interest (based on number of acres purchased) of the Virgil E. Gerkin, Lease # 451893. Royalty Interest (1/6). Current Operator/Producer: Brandt Powell. Buyer: Plains Marketing.

Royalty Interest Income: Income from 1/21/2020 through 10/20/2023: $91,153.17. Digital Copy associated with Royalty Interest & Income are posted to www.sellafarm.com, view anytime.

Possession: Possession date of closing on All Tracts.

Survey: Advertised Acres are gathered from county/tax records, Farm Service Agency Mapping, along with Survey on file with Indiana DNR for Classified Forest. Digital copy of FSA Maps, FSA 156 EZ & DNR Classified Forest Survey are posted to www.sellafarm.com, view anytime. Actual surveyed acres may change. Any survey cost to be paid by buyer(s). Any acreage difference greater than half (½) acre plus or minus from the advertised acreage discovered in survey will be reflected in price adjustment based upon original bid price per acre & original buyer’s premium per acre.

Online Bidders: Please Make sure to hit the Blue “Enter Auction” button as well as the “View Live Stream” Button for live video feed.

Online Bidders: Please take special note of the countdown timer shown on the screen. It may be extended or shortened at any moment to reflect when we go to a 2 Minute Countdown timer. Online bidders are encouraged to bid early and often as technical issues may arise. 2 Minute Timer will be placed on the screen once owner confirmation has been obtained.

Terms: 10% down day of sale non-refundable escrow. 6% Buyer’s Premium. Closing to occur as soon as necessary documents are prepared, Plan to Close in 30-45 days. Have financial arrangements made prior to the auction as the sale is not contingent upon the Buyer(s) ability to obtain financing.

Title: Seller shall furnish the buyer(s) at Seller's expense an Owners Policy of Title Insurance in the amount of the purchase price for surface rights only, and agrees to provide and execute a proper deed conveying merchantable title to the real estate to the buyer(s).

Closing Agent: Sullivan County Abstract, 12 S. Court Street, Sullivan County, IN will be the closing agent on the property. Preliminary Title Commitment will be posted to www.sellafarm.com prior to auction date, view anytime under “Documents” Tab.

Agency: SELLAFARM, Your Team on the Ground and its representatives are acting as Agents for the Seller.

Approval of Bids: Being sold subject to Owner Confirmation.

Bidding: All Bidding will be on a per acre basis from beginning to end on all Tracts. All bidding will be in increments of $1,000, $500, $250, $100 or $50 per acre. No other increments will be acknowledged by auctioneer. 2 Minute Countdown Timer will be placed on the screen once final countdown has begun. If any bids, Timer will reset.

Other Announcements: All information provided is from sources deemed reliable however not guaranteed. Parties relying on such are urged to perform due diligence and base their decisions upon that information. Announcements made on the podium day of the auction take precedence over any previous information.

Log onto www.sellafarm.com downloadable multi-page brochure, aerials, FSA Maps, Soil & Topography Maps, drone tour, ground photos & plats.

For more information, please contact Land Specialist and Listing Broker Zane Parrott at 812-890-5452!

Prospective Buyer(s) are welcome to walk the land at their Convenience!

The Virgil Gerkin Farm by Linda Bailey & LeeAnn McHugh – Seller

Sullivan Civic Center, 344 N. Main, Sullivan, Indiana 47882

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