Gas City Indiana Real Estate Auction 42 Acres

Description

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Real Estate Broker IB51191098

Auctioneer AU01016000

NOTICE OF SALE OF REAL PROPERTY

Notice is given by the undersigned that, by virtue of an order of sale of the Common Council of the City of Gas City, Gas City, Indiana, the following described parcel will be offered for sale to the highest bidder at an auction to be held in Hontz Hall, Gas City Park, commencing at 6:00 p.m. on March 19, 2012:  
 
Commencing at an iron pipe situated at the Southwest corner of the Northwest Quarter of the Southeast Quarter of Section Three (3); thence North on the West line of the East half (1/2) of Section Three (3) a distance of one thousand seven hundred five and six-tenths (1705.6) feet to an iron corner post on the Southerly right-of-way line of the Pennsylvania Railroad; thence Southeasterly on said Southerly right-of-way line a distance of one thousand four hundred thirty-one and two tenths (1431.2) feet to an iron corner post on the East line of the aforesaid Northwest Quarter of the Southeast Quarter; thence South on said East line a distance of one thousand one hundred eight (1108) feet to an iron pipe on the South line of the aforesaid Northwest Quarter of the Southeast Quarter; thence West on said South line a distance of one thousand three hundred fifteen and three-tenths (1315.3) feet or to the place of beginning; containing forty-two (42) acres, more or less and being a part of the East half (1/2) of Section Three (3), Township Twenty-three (23) North, Range Eight (8) East in Mill Township, Grant County, State of Indiana.

The Terms of said Sale will be:   
 
1.  Cash: 10% down on date of sale and remainder on closing within 14 days thereafter.
 
2.  Written bids will be received at the office of the Clerk Treasurer, 211 E. Main St., Gas City, Indiana, commencing March 2, 2012 up to the date of an oral auction to be held March 19, 2012, to be conducted by an auctioneer licensed under I.C. 25-6.1.  Bids will be open to the public.  A bid may be raised and notice of any such raise shall be submitted to other bidders.
 
3.  Pursuant to I.C. 36-1-11-4, a bid shall not be for less than $167,985 (90% of the appraised value of said property).  Bids must be accompanied by cash, money order, or cashier's check in the amount of 10% of the bid.  The right to reject any and all bids is reserved.  
 
4.   The highest written bid (if any) shall be announced at the time of the auction as set forth above, at which time any qualified person, including those having previously submitted a written bid will have an opportunity to bid until the highest winning bid is determined.
 
5.   Anyone who is delinquent on their property taxes is not qualified to purchase any of the aforementioned parcels.
 
6.   Bids submitted by a trust, either written or oral, must be accompanied by disclosure of the identity of the beneficiary and the Settlor who is empowered to revoke the trust.  
 
7.   Sale will be subject to the rights of tenant for crop year 2012.
 
Dated this 7th day of February, 2012.
Julie Flores
Clerk-Treasurer, City of Gas City

Terms

Listed In Description. 10% Down at the conclusion of the auction in cash, certified funds, company or personal check with bank letter guaranteeing the check will be negiotable in the amount for which it is written.