68 Acre Maplewood Farmland Auction

VONDENHUEVEL AUCTIONEERS LLCTERMS AND CONDITIONS OF SALEOnline Real Estate Auction — Donald W. ShafferShroyer Road, Salem Township, Maplewood (Shelby County), Ohio 45340 | Parcel 44-1436100.002 | 68.19± AcresAUCTION AT A GLANCEProperty68.19± acres of productive farmland (±66.38 tillable), Salem Township, Shelby County, OhioSellerDonald W. ShafferAuction FormatOnline only — reserve auction, subject to Seller confirmationBidding OpensMonday, July 20, 2026 at 9:00 A.M. (ET)Bidding ClosesTuesday, July 21, 2026 at 2:00 P.M. (ET) (soft close / auto-extend applies)Buyer’s Premium5%, added to the high bid to determine the total Contract PriceEarnest Money$25,000.00, due within 24 hours of close; held by Lawyers Title and returned to Buyer at closingClosingon or before Friday, August 21, 2026PossessionUpon completion of harvest and removal of the 2026 cropAnnual Taxes$2,609.56 (currently enrolled in CAUV (Current Agricultural Use Value))This summary is provided for convenience only. The complete Terms and Conditions set forth below govern the auction and sale in all respects and control over this summary in the event of any conflict.THE PROPERTYThe real property offered (the “Property”) consists of approximately 68.19 acres, more or less, of agricultural land located on Shroyer Road, Salem Township, Maplewood (Shelby County), Ohio 45340, being Shelby County Auditor Parcel No. 44-1436100.002, situate in Salem Township, Shelby County, Ohio. Of the total, approximately 66.38 acres are tillable cropland, with the balance in road right-of-way. The Property is more particularly described in the deed recorded at Volume 1749, Page 237–238, Official Records of Shelby County, Ohio, the recorded legal description of which controls.TERMS AND CONDITIONS1. ACCEPTANCE OF TERMS. By registering to bid and by placing a bid in this auction, each bidder (“Bidder”) acknowledges that the Bidder has read, understands, and agrees to be bound by these Terms and Conditions of Sale (“Terms”), as the same may be supplemented by announcements made before or during the auction. Announcements made on the auction website or by the Auctioneer take precedence over any previously printed or posted material.2. AUCTION FORMAT. This is an online-only auction conducted through the Auctioneer’s bidding platform at bids.vondenhuevelauctioneers.com. Bidding opens Monday, July 20, 2026 at 9:00 A.M. (ET) and closes Tuesday, July 21, 2026 at 2:00 P.M. (ET). This is a RESERVE auction: the final high bid is subject to Seller’s confirmation and acceptance. The Auctioneer reserves the right to accept or reject any and all bids, to withdraw the Property at any time prior to the close of bidding, and to postpone, cancel, or extend the auction in its sole discretion.3. SOFT CLOSE / EXTENDED BIDDING. The auction uses a dynamic (“soft”) closing feature. Any bid placed within the final minutes of the scheduled closing time will automatically extend the closing time for that lot, and bidding will continue until no further bids are received within the extension window. Bidders are responsible for their own internet connectivity and for placing bids in a timely manner. The Auctioneer is not responsible for any failure of, or interruption to, the bidding platform, internet, or electronic communications.4. BUYER’S PREMIUM. A Buyer’s Premium of 5% of the final high bid will be added to the high bid amount to determine the total Contract Price. Example: a high bid of $100,000 results in a Contract Price of $105,000. The Buyer’s Premium is part of the purchase price and is payable by the Buyer at closing.5. EARNEST MONEY DEPOSIT. Within twenty-four (24) hours after the close of bidding, the high bidder (“Buyer”) shall deliver a non-refundable earnest money deposit of $25,000.00 to Lawyers Title Agency, Sidney, Ohio (the “Closing Agent”), by wire transfer or other immediately available funds. The deposit shall be held in escrow by the Closing Agent and RETURNED to the Buyer at closing; the Buyer shall bring the full Contract Price to closing in immediately available funds and the deposit shall not be applied against the Contract Price. The deposit is non-refundable except in the event of Seller’s inability to convey marketable title.6. PURCHASE CONTRACT. Immediately upon being declared the high bidder and upon Seller’s confirmation, the Buyer shall execute the Memorandum of Purchase Contract (the “Contract”) without modification, together with all related disclosures and closing documents. The Contract incorporates these Terms by reference. The Buyer’s execution of the Contract is a material condition of the sale, and failure to execute the Contract promptly constitutes a default.7. CLOSING; CLOSING COSTS. Closing shall occur on or before Friday, August 21, 2026, at the offices of the Closing Agent. Time is of the essence. At closing, the Buyer shall pay the full Contract Price in immediately available funds. This sale is NOT contingent upon the Buyer obtaining financing; Bidders should arrange financing, if needed, prior to bidding. Should the Buyer or the Buyer’s lender cause a delay in closing beyond the date set forth herein, the Buyer shall pay a per-diem charge of $500.00 per day until closing is completed, without waiver of any other remedy. The BUYER shall pay ALL closing costs, including without limitation the Ohio real property conveyance (transfer) fee, all recording fees, the Closing Agent’s escrow and closing fees, and the premium for any title insurance the Buyer elects to obtain. The Seller shall be responsible only for preparation of the deed and for the release of Seller’s existing mortgage.8. POSSESSION. Possession shall be delivered to Buyer upon completion of harvest and removal of the 2026 crop by the Seller. The Seller is the current farm operator and retains the right to complete the 2026 growing season and to harvest and remove the 2026 crop. Full possession of the tillable ground will pass to the Buyer following completion of the 2026 harvest. No 2026 crop or crop proceeds are included in this sale.9. DEED AND MARKETABLE TITLE. Seller shall convey the Property to Buyer by General Warranty Deed, conveying marketable title free and clear of all monetary liens, subject only to: (a) legal highways and public rights-of-way; (b) easements, restrictions, reservations, conditions, and other matters of record; (c) applicable zoning and land-use regulations; and (d) real estate taxes and assessments not yet due and payable. The Seller shall, at the Seller’s expense, cause any existing mortgage or monetary lien to be released of record at or before closing. Buyer may obtain, at Buyer’s expense, an owner’s policy of title insurance.10. REAL ESTATE TAXES; CAUV RECOUPMENT. Real estate taxes and assessments shall be prorated to the date of closing on the basis of the most recent available tax duplicate, using the “short proration” (due-and-payable) method, unless otherwise required by the Closing Agent. The Property is currently enrolled in CAUV (Current Agricultural Use Value). The Buyer acknowledges that any CAUV recoupment (the recovery of tax savings) that may be triggered by a change in the use of the Property after closing shall be the sole responsibility of the Buyer. Seller shall not be responsible for any recoupment arising from Buyer’s post-closing change of use.11. ACREAGE AND SURVEY. All acreages, dimensions, soil data, and boundary lines stated in any auction material are approximate, are taken from the Shelby County Auditor and other public sources, and are believed but not warranted to be accurate. The Property is sold by the parcel as a whole — not by the acre — in gross and “more or less,” and not subject to survey. No adjustment to the Contract Price will be made on account of any variation between stated and actual acreage. Should the Buyer desire a survey, the Buyer may obtain one at the Buyer’s sole expense, which shall not affect or delay closing.12. OIL, GAS, AND MINERAL RIGHTS. Seller conveys whatever right, title, and interest the Seller owns in and to the oil, gas, coal, and other minerals in, on, or under the Property, if any, SUBJECT TO any prior reservations, conveyances, leases, or interests of record, including any oil and gas lease appearing in the chain of title. Seller makes no representation or warranty as to the existence, ownership, status, or value of any oil, gas, or mineral rights, or as to whether any such lease remains active or has been released, abandoned, or expired. Bidders are encouraged to make their own investigation.13. PROPERTY SOLD “AS IS, WHERE IS”. The Property is sold STRICTLY “AS IS, WHERE IS,” and “WITH ALL FAULTS,” without any representation or warranty of any kind, express or implied, including without limitation any warranty of condition, fitness for a particular purpose, soil productivity, drainage, tillable acreage, environmental condition, or merchantability. Any information provided is for convenience only and is not warranted. Each Bidder is responsible for conducting the Bidder’s own independent due diligence prior to bidding.14. INSPECTION AND DUE DILIGENCE. Bidders are strongly encouraged to inspect the Property and to investigate all matters of importance to them — including boundaries, access, soils, drainage, tile, zoning, utilities, leases, taxes, CAUV status, and title — prior to bidding. The Property may be viewed by drive-by at any time and by scheduled appointment with the Auctioneer. The placing of a bid constitutes the Bidder’s acknowledgment that the Bidder has had full opportunity to inspect and investigate the Property and is relying solely upon the Bidder’s own examination.15. AGENCY DISCLOSURE. Vondenhuevel Auctioneers LLC and its agents, together with the broker of record, Gay Smith and Associates Realty, represent the SELLER exclusively in this transaction as the Seller’s agent, and owe fiduciary duties of loyalty, obedience, confidentiality, and full disclosure to the Seller only, consistent with Ohio Revised Code §4735.55. The Auctioneer and broker do NOT represent any Bidder or Buyer. Bidders may, at their own expense, retain their own representation. A separate Ohio Agency Disclosure Statement will be provided with the Contract package.16. REMAINING PERSONAL PROPERTY. Any personal property, equipment, debris, fixtures, structures, or other items that may remain on the Property as of closing shall become the property and sole responsibility of the Buyer at closing, at no cost to and with no liability to the Seller or Auctioneer, and with no adjustment to the Contract Price. Seller and Auctioneer make no representation that the Property will be cleared of any such items.17. DEFAULT. If the Buyer fails to execute the Contract, deliver the earnest money, or close in accordance with these Terms, the Buyer shall be in default. Upon default, the Seller may, at Seller’s option, retain all sums paid as liquidated damages and/or pursue any remedy available at law or in equity, including specific performance. A defaulting Buyer shall also be liable for all costs of re-sale, additional advertising, and the Buyer’s Premium that would have been due. The Auctioneer reserves the right to refuse the participation of any bidder.18. LIMITATION OF LIABILITY; ANNOUNCEMENTS. The Auctioneer acts solely as the agent of the Seller and is not liable for any act or omission of the Seller, the Closing Agent, or any third party, or for any defect in or condition of the Property. Neither Seller nor Auctioneer shall be liable for any consequential, incidental, or punitive damages. Announcements made on auction day or posted on the auction website supersede all prior printed or oral statements.19. GOVERNING LAW; DISPUTE RESOLUTION. These Terms and the resulting Contract shall be governed by the laws of the State of Ohio. The parties consent to the exclusive jurisdiction and venue of the courts of Shelby County, Ohio for any dispute arising out of or relating to the auction or sale. If any provision is held unenforceable, the remaining provisions shall remain in full force and effect.20. ENTIRE AGREEMENT. These Terms, together with the Memorandum of Purchase Contract and any auction-day announcements, constitute the entire agreement governing the auction and supersede all prior or contemporaneous understandings. No oral statement or representation shall modify these Terms.By participating in this auction, the Bidder acknowledges having read, understood, and agreed to these Terms and Conditions of Sale in their entirety.