ABSOLUTE FARMLAND AUCTION Salem, KY

REAL ESTATE: Consider this 91.3 +/- acre farm offered in 2 tracts separate or combined. Altogether this farm has +/- 900’ of road frontage on Hodge Road. Acreage Breakdown: Tract 1 contains 48.6 +/- acres with +/- 261’ of road frontage on Hodge Road & served by an ingress/egress easement from Hodge Road. This tract has a stocked fishing pond & is approximately 60% vs 40% tillable to wooded ratio. Tract 2 contains 42.7 +/- acres with +/- 639’ of road frontage. Tract 2 is approximately 70% vs 30% wooded to tillable ratio. For the sporting enthusiast there is excellent whitetail deer & turkey hunting on both tracts!

Lease Agreement: This property is currently income producing with a lease in place. All future lease agreement monies will be transferred to new owner beginning August 1st of 2016 when next lease payment is due. Lease expires 2020.

Deer Lakes Golf Course Details:

The 18 holes are spaced among half dozen lakes and 40 to 50 species of trees that resemble a brilliant emerald in the spring and burst forth in the fall in a spectacular array of color. Deer Lakes Golf Course is enhanced with large rocks, flowing streams and foot bridges. Each tee-box features a marble monument on which the holes specifications are engraved. One irrigation lake between holes #14 and #15 contains over a billion gallons of fresh water feeding from the natural everlasting Butler Spring nearby. The five mile concrete cart path winds through hills and beautiful trees, one being a 150 foot tall Tulip Poplar near #12 Tee-box, a rare Chestnut Oak centered in the driving range and a White Oak measuring 16 Ft. in circumference estimated to be 300 years of age on hole #8

Our signature hole is located on #6, surrounded by a horseshoe pond, this 173 yard par 3 is sure to captivate your eye. We have beautiful Tiff-94-sport Bermuda fairways and lush bent grass greens. Enjoy the seclusion of our course, as well our elegant clubhouse and back patio area when you make the turn.

A large portion of the course is bounded by Sandy Creek where many species of colorful birds and wild life abound, including wild turkeys, deer and many others native to this area. The roadway, known as Alley Lane, through the course was a part of the old Golconda Road, the stagecoach line between Illinois and Tennessee and a part of the Cherokee Indian Trail of Tears on their march to Oklahoma Territory in 1838. The old iron bridge at #15 Tee-box was originally installed on this same road in 1898 and carried all traffic across Sandy Creek until about 1950, then abandoned until it was narrowed and removed to the course.

TERMS OF AUCTION:

REAL ESTATE: 15% good faith deposit due day of sale. Balance due in 45 days. 10% buyer premium added to final bid and included in the total contract price. Bidders are responsible for their own inspections and verifications of subject property. Contact the office for questions regarding the auction @ (270) 444-0031. Announcements day of auction will take precedence over any previous marketing, either written or oral.

PROCEDURE: Initial procedure determined by auctioneer.

TITLE: Fee Simple title delivered.

DEED: Seller will provide a General Warranty Deed.

PURCHASE AGREEMENT: Successful bidder/s will enter into a purchase agreement contract immediately upon conclusion of the auction.

POSSESSION: Possession given at closing.

RESTRICTIONS: Any recorded restrictions (if any) and zoning regulations apply.

EASEMENTS: Sale of property is subject to any and all easements of record.