REAL ESTATE SALE/AUCTION
NOTICE OF SALE OF COUNTY-OWNED PROPERTY
LAKE FRONT-STONE LAKE

(the “Real Estate”), and as limited or modified by an Order of the Court entitled “Findings of Fact and Conclusions of Law (The “Order”) dated April 12, 2005, issued in Cause Number 44C01-0111-CP-142 in the LaGrange Circuit Court and in Cause Number 76D01-0306-PL292 in the Steuben Superior Court. A copy of the Order may be reviewed and inspected at the offices of the LaGrange County Recorder’s Office or by review of the above-referenced cause at the Clerk of the LaGrange County Courts, and subject to all easements and visual encumbrances and encumbrances of record. The key number of the Real Estate is 0011840900. Title to the above described Real Estate was quieted in the name of the Board by the Order. The Real Estate is vacant land.

The proposed sale of the Real Estate shall be made, and bids accepted by the Board, in two (2) fashions-by separate lots or as a combination of all lots. The first shall be in fifteen (15) individual lots in such a fashion that each lot is finally determined by survey by an extension of the lot lines of the adjacent platted lots numbered one (1) to fourteen (14) in the Plat of Sunset Beach and lot numbered eighteen (18) in the First Addition to Sunset Beach. The second shall be a proposed sale of Real Estate as one tract. A general depiction of the Real Estate is a part of this Notice.

No bid for less than: (i) One Hundred and Fifty Thousand Dollars ($150,000.00), cash at closing, if the Real Estate is purchased in its entirety; and (ii) Ten Thousand Dollars ($10,000.00), cash at closing, for each individual lot (the “Minimum Bid) shall be considered. A Bidder may bid on more than one lot. No bid shall be subject to a financing condition. The property is being sold in “as is” condition with any inspection of the Real Estate being made prior to submission of a bid. Taxes shall be prorated to date of closing. Transfer shall be by limited Corporate Deed, subject to easements and visual encumbrances and encumbrances of record. If sold in multiple lots, the Board shall provide a simple boundary survey and title policy from a title company of the Board’s choosing with standard title exceptions applying. The Board makes no representation or warranty as to any zoning designation or requirements or building use of the Real Estate and each Bidder assumes full responsibility and liability for zoning use and building use restrictions.

The Board shall receive written bids at the LaGrange County Auditor’s Office, 114 West Michigan Street, LaGrange, Indiana 46761, of not less than the Minimum Bid from interested parties (the “Bidder) from April 7, 2008, until 4:00 p.m. on May 2, 2008, in accordance with I.C. 36-1-11-4. after which time no new Bidders will be allowed to bid. All bids shall be submitted on forms provided by the Board which are available at the office of the LaGrange County Auditor, or by downloading the same HERE. A Bidder who has properly submitted a Minimum Bid by 4:00 p.m. on May 2, 2008 may thereafter raise the Bidder’s bid until 4:00 p.m. on May 27, 2008 which raised bid will only take effect after the Board has given written notice of that raised bid to the other Bidders. All costs of providing notice to other Bidder’s of a raised bid shall be at the Bidder’s expense, paid in advance at the time of making the raised Bid. All Bids received are open to public inspection and shall be accompanied by earnest money in the form of a cashier’s check in the amount of 10% of the bid amount, payable to the Treasurer of LaGrange County. The property may not be sold to a person who is ineligible under I.C. 36-1-11-16. A bid submitted by a trust, as defined in I.C. 30-4-1-1(a) must identify each beneficiary of the trust; and settler empowered to revoke or modify the trust. No bid shall be withdrawn after submission of a bid without the consent of the Board.

The Board reserves the right to reject any and all bids submitted, to terminate without penalty any bid accepted, and the right to sell the Real Estate as a whole or in individual lots. All earnest money on any rejected or terminated bid shall be returned to the respective Bidder within ten (10) days of said rejection or termination. The Board also reserves the right to, at any time before the expiration of the time set forth in this Notice for the submission of bids, to sell the property to the highest and best bidder then submitted. The Board reserves the right to accept more than one bid, or secondary bids, on the Real Estate. Closing on any sale is anticipated to be within thirty (30) days after all title and survey issues have been determined and resolved and shall be subject to final approval of the Board and its agencies.

To see a map of the property please click HERE

Any questions regarding the sale, or terms and conditions thereof, may be directed to the Board c/o The LaGrange County Auditor’s Office, 114 West Michigan Street, LaGrange, Indiana 46761, (260)499-6310, during regular County business hours.