9,422 Acres in 2 Sessions - Indiana Hardwood Timberland Auction, Excellent Hunting

Thursday, November 6
Session A: 9:30am • Session B: Immediately Following (Approx. 1pm EST)

French Lick Hotel & Casino Conference Center • French Lick, IN

Owner: Kimball International
Auction Sessions Click the following to see tracts in that session

Session A: 6,256± Acres
64 Tracts in Martin, Lawrence & Orange Counties, IN

Session B: 3,166± Acres
55 Tracts in Orange, Dubois, Crawford & Perry Counties, IN

Bidder Pre-Registration Form
Fill out the form and fax back to have your bidders packet waiting for you on auction day.

Draft of the Contract to Purchase
This is a draft of the Contract to Purchase that will be used at the auctions.

Online Bidding Registration Form
In addition to pre-registering for the auction, those Bidders wanting to bid over the Internet should fill out this form.

HIGHLY PRODUCTIVE SOILS FOR QUALITY HARDWOOD GROWTH!

These properties support mostly upland hardwoods such as white oak, red oak, sugar maple, black walnut, black cherry and yellow poplar with a significant volume of sawtimber. It is currently estimated that the Indiana tracts support approximately 28,000,000 Bd/Ft. of sawtimber. The timber has been well managed with an overall management goal of producing quality sawlogs. Timber harvesting has been performed for the most part by company crews employing a selective system of harvesting. Trees selected for removal included not only stems that have reached maturity, but also trees of poor quality and less desirable species, therefore, improving the overall quality of the growing stock. Access is generally good with many tracts having frontage on public roads. Several properties have shared boundaries with the Hoosier National Forest.

Overview

These properties support mostly upland hardwoods such as white oak, red oak, sugar maple, black walnut, black cherry and yellow poplar with a significant volume of sawtimber. It is currently estimated that the Indiana tracts support approximately 30,000,000 Bd/Ft. of sawtimber. The timber has been well managed with an overall management goal of producing quality sawlogs. Timber harvesting has been performed for the most part by company crews employing a selective system of harvesting. Trees selected for removal included not only stems that have reached maturity, but also trees of poor quality and less desirable species, therefore, improving the overall quality of the growing stock. Access is generally good with many tracts having frontage on public roads. Several properties have shared boundaries with the Hoosier National Forest.

• Mostly Upland Hardwoods
• Significant Volume of Sawtimber
• Well Managed Timber Stands
• Selective Harvesting System Employed
• Good Access with Most Having Public Road Frontage

Auction Location

French Lick Resort & Casino Conference Center
8670 West State Road 56 French Lick, Indiana 47432
Toll Free: 888-936-9360
Phone: 812-936-9300

By Auto
• From Louisville - 68 Miles - 70 Minutes: Take I-64 West to SR 37 North (Tell City-exit 79) / IN-145, Continue to follow IN-145 to French Lick.
• From Indianapolis - 108 Miles - 2-1/2 Hours: South on Route 37 to Paoli, Hwy. 56 West - 10 miles to French Lick.
• From Cincinnati - 142 Miles - 3 Hours: A. I-71 to Carrollton - Ky. 36 to Milton over bridge to Madison - West on 56 through Paoli to French Lick. B. Take I-71 to Louisville - to I-64 West to SR 37 North (Tell City-exit 79) / IN-145, Continue to follow IN-145 to French Lick.
• From Evansville - 90 Miles - 2 Hours: I-64 East to SR 37 (Tell City-exit 79) / IN-145, Continue to follow IN-145 to French Lick.
• From Chicago - 275 Miles - 5 Hours: Route I-90 Southeast to I 65 South, to I-465 South & West at Indianapolis. Take Route 37 South to Paoli, Hwy. 56 West - 10 miles to French Lick.
• From Nashville - 240 Miles - 4 1/2 Hours: I-65 North to Louisville to I 264 West to 64 West to SR 37 North (Tell City-exit 79) / IN-145, Continue to follow IN-145 to French Lick.
•From St. Louis - 208 Miles - 4 Hours: I-64 East to SR 37 North (Tell City-exit 79) / IN-145, Continue to follow IN-145 to French Lick.

By Air
Several major airlines fly into Louisville. From there you have a choice of limousine, taxi, bus, or rental car. You may also fly a charter or private plane directly to the French Lick Municipal Airport.

LODGING
French Lick Springs Hotel - established in 1845 with the original current wing built in 1901, this classic resort hotel has now been completely restored returning it to its original charm and grandeur.
Phone: 888-936-9360

West Baden Springs Hotel - a historic landmark hotel in the town of West Baden Springs, known for its vast domed atrium.

Phone: 812-936-1902

Inspection Dates

Friday, September 19 • 3:00pm - 6:00pm
Saturday, September 20 • 9:00am - 1:00pm
Friday, October 3 • 3:00pm - 6:00pm
Saturday, October 4 • 9:00am - 3:00pm
Sunday, October 5 • 10:00am - 2:00pm

Tuesday, October 21 • 3:00pm - 6:00pm
Wednesday, October 22 • 3:00pm - 6:00pm

Thursday, October 30 • 3:00pm - 6:00pm
Friday, October 31 • 3:00pm - 6:00pm
Saturday, November 1 • 9:00am - 1:00pm

Inspection Headquarters

8377 West SR 56, French Lick, IN.
From the junction of US 150 and SR 56 on the north edge of French Lick, travel south on SR 56 1.3 miles to the inspection headquarters on left (east) side of road.

Auction Terms & Conditions:

BUYERS PREMIUM: A 3% buyers premium will be added to the final bid price and included in the total purchase price.

PROCEDURE: The Property will be offered in 64 individual tracts in Session A and 55 individual tracts in Session B, any combination of tracts and as a total unit at the dates and times as noted in this brochure. There will open bidding on all tracts and combinations during the auction as determined by the Auctioneers. Bids on tracts, tract combinations, and the total property may compete.

DOWN PAYMENT: 10% of accepted bid price as down payment on the day of auction with the balance in cash at closing. If the bidder pre-registers with the Auction Company on or before Friday, October 31, then cash or a personal check will be accepted for the down payment (contact Auction Company for a pre-registration form or visit www.schraderauction.com. If the bidder does not pre-register, a bank letter of credit or guarantee will be required with a personal check, OR bidder must present a $10,000 cashiers check with a personal check for the balance of the down payment (if any balance exists) on auction day. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

APPROVAL OF BID PRICES: All successful bidders will be required to enter into a Purchase Agreement 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 Special Warranty Deed.

EVIDENCE OF TITLE: Seller agrees to make available to bidder a preliminary title insurance commitment to review prior to auction. The cost of title insurance, if the buyer(s) elect to have the title commitment executed, will be the responsibility of the buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar related matters.

REAL ESTATE TAXES: Taxes for the calendar year 2008 will be paid by the Seller. All taxes for the 2009 calendar year and thereafter shall be the responsibility of the buyer(s).

CLOSING: Closing shall take place on or about January 10, 2009, or as soon thereafter as applicable closing documents are completed, at a location designated by Seller. With respect to the timing of bidder(s) fulfilling its obligations under a Purchase Agreement, time is of the essence.

POSSESSION and RISK OF LOSS: Possession of the property and risk of loss thereto shall be given immediately upon Closing.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: 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. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for the issuance of an owners title insurance policy. Combination purchases will receive a perimeter survey only. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres on all tracts and tract combinations.

CLASSIFIED FOREST & WILDLIFE HABITAT: Most of the non-cropland tracts in Indiana are enrolled in Classified Forest and Wildlife Habitat. Buyer(s) shall assume seller position including benefits and responsibilities of these programs and shall execute any requested paperwork to implement. Any withdraw from the program must be done at the cost of the Buyer(s). No tract with less than 10 acres of woods can remain in the program.

PROPERTY INSPECTION: Each potential bidder is responsible for conducting at their own risk, their own independent inspections, investigations, inquires, and due diligence concerning the Property. Inspection dates have been scheduled and will be staffed with auction personnel. Bidder shall be liable for any Property damage caused by bidders inspection and investigation, if any.

AGENCY: Schrader Real Estate and Auction and Woltz & Associates, Inc. and their representatives are the Auctioneers and exclusive agents of the Seller regarding the sale of the Property.

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. ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is sold AS IS, WHERE IS. No warranty or representation, either express or implied, or arising by operation of law concerning the Property is made by the Seller or Auctioneers, and are hereby expressly disclaimed. In no event shall Seller or the Auctioneers be liable for any consequential damages. The information contained in this brochure is believed to be accurate but subject to verification by all parties relying on it. Seller and the Auctioneers assume no liability for its accuracy, errors or omissions. All sketches and dimensions in this brochure are approximate. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneers. Seller and the Auctioneers reserve the right to preclude any person from bidding if there is any question, in the sole judgment of Seller or the Auctioneers, as to such persons creditworthiness, ability or willingness to close on the purchase of the Property, credentials, fitness, etc. All decisions of the Auctioneers are final.

NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the Property information.

STOCK PHOTOGRAPHY: Some photography reflecting wildlife & outdoor recreation activities are used for illustrative purposes.

SELLER: Kimball International, Inc.