trAct 20 Oceana County, Michigan

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IN THE SCHRADER METHOD OF AUCTION, YOU MAY BID ON ANY INDIVIDUAL TRACT, BID ON ANY COMBINATION OF TRACTS WITHIN THE DIFFERENT GROUPS. PUT TOGETHER THE COMBINATION OF TRACTS THAT BEST FITS YOUR NEEDS AND DESIRES.

INSPEC TION H EADQU ARTERS

AUC TIO N LO CAT ION

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INSPECTION

N

AUCTIO

Auction Location: Shelby High School, 641 North State Street, Shelby, MI. From the intersection of Hwy 31 and Shelby Road (Exit 144) near Shelby, MI, travel east on Shelby Road 1¼ mile to State Street. Turn north (left) and travel ¾ mile to entrance to Shelby High School on the west (left) side of the road.

Auction Managers:

Kevin Jordan 800-451-2709 Ed Boyer 800-691-7653

Information Days:

Thursday, August 5th • 3PM – 6PM. Tuesday, August 10th • 3PM – 6PM. Friday, August 20th • 3PM – 6PM.

Meet a Schrader Representative at the Shelby State Bank Branch in Hart, Michigan for additional information.

Directions to Information Day: 811 S State Street, Hart, MI. From the intersection of Hwy 31 and Polk Road (Exit 149) near Hart, MI, travel east on Polk Road 1 ½ mile to State Street. Turn north (left) on State Street and travel ½ mile to the bank on the west (left) side of the road. Turn left just past the bank and park in the rear.

If you are not interested in tree farming Slocum Brothers may be interested in a buy back of the trees and they may be able to care for the trees. Call Auction Company for details.

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TRACTS 1-4

Oceana County, Michigan Elbridge Township

GPS Coordinates: 43 40 19.98 N 86 12 20.96 W

Directions: From the intersection of Polk Rd. and 116th Ave., 5 miles east of Hart, travel south on 116th 1 mile to Taylor Rd. Continue east on Taylor Rd. 1-1/2 mile to a jog. Turn left and then arrive at the property. Tract 1 • 37± Acres: Potential building site or fruit crop on this tract with frontage on 136th Ave. and Taylor Rd. Tract 2 • 40± Acres: Prime fruit crop land with frontage on Taylor Rd. Small stand of maple & beech trees. Note: Leased trees on Tract 1 (15 Ac.) and Tract 2 (15 Ac.) shall pay $40/Ac. through 2011. Tract 3 • 80± Acres: Nice mixture of tillable and 30± acres of woods (primarily maple) to the north. Frontage on Taylor Rd. 6,000± Fraser Fir planted in 2009 with some older Norway Spruce and Fraser Fir. Prime fruit crop land. Tract 4 • 33± Acres: Potential building site with frontage on Taylor Rd. and 144th Ave. Prime fruit crop land.

Tree Tracts

Tree Tracts: 101, 102, 103, 104, 105

See Chart for Description of Tree Tracts on Page 23.

TRACT 5

Oceana County, Michigan Elbridge Township

Directions: From the intersection of Hazel Rd. and 144th Ave., travel west on Hazel Rd. 0.5 miles to the property on the north side of the road. Tract 5 • 20± Acres: Gently rolling land with Spinks soils. Consider future tree harvest or the asparagus/fruit crop potential. Frontage on Hazel Road. Approximately 26,000 Fraser Fir planted in 2006. GPS Coordinates: 43 39 55.42 N 86 12 33.31 W

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TRACTS 6-9

Oceana County, Michigan Elbridge Township

GPS Coordinates: 43 39 44.05 N 86 13 08.79 W

Directions: Near the intersection of Hazel Rd. and 136th Ave., just 1 mile south of Taylor Rd., 7 miles east of Hart. Tract 6 • 22± Acres: Mostly level land with frontage on 136th Ave. Approximately 12,000 Douglas and Fraser Fir planted in 2002. Tract 7 • 3± Acres: Uninhabited 1,934 sq. ft. home and 32’ x 60’ barn. Consider the potential! Tract 8 • 25± Acres: Mostly level productive land with Benona and Spinks soils. Fruit potential. Frontage on 136th Ave. Approximately 12,000 Fraser Fir planted in 2004 and 14,000 Fraser Fir planted in 2007. Tract 9 • 20± Acres: Frontage on 136th Ave. 13,000 Scotch Pine planted in 2004 and smaller plantings of Blue Spruce (2004) and Douglas Fir (2008). Potential home site.

TRACTS 10-11

Oceana County, Michigan Elbridge Township Directions: Near the intersection of 128th Ave. and Taylor Rd. just 6 miles east of Hart.

Tree Tracts

Tract 10 • 20± Acres: Frontage on hard surface Taylor Road and 128th Ave. Potential building site. Tract 11 • 40± Acres: Frontage on hard surface Taylor Road. Potential building site.

Tree Tracts: 106, 107

See Chart for Description of Tree Tracts on Page 23. Note: Leased trees on Tract 10 (3 Ac.) and Tract 11 (11 Ac.) shall pay $40/Ac. through 2014.

GPS Coordinates: 43 40 12.29 N 86 13 59.84 W

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TRACTS 12-13

Oceana County, Michigan Elbridge Township Directions: From Hart travel 5 miles east of town on Polk Rd. to the property. Tract 12 • 40± Acres: Rolling land with 1/4 mile road frontage on Polk Rd. Potential fruit land. 12± acres of Hardwood timber primarily Maple. Douglas Fir and Fraser Fir planted in 2006/07 on the west side of the tract. Tract 13 • 38± Acres: This gently rolling land has frontage on hard surface Polk Rd. and 122nd Ave. Potential building site. 36,000± Douglas Fir planted in 2008.

GPS Coordinates: 43 41 03.91 N 86 14 52.56 W

Tree Tract

Tree Tract: 108 See Chart for Description of Tree Tracts on Page 23.

TRACT 14

Oceana County, Michigan Elbridge Township Directions: From the intersection of 122nd Ave. and Polk Rd., 5 miles east of Hart, travel south on 122nd Ave. 1-3/4 mile to access lane to property.

GPS Coordinates: 43 39 41.70 N 86 15 30.54 W

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Tract 14 • 40± Acres: This tract has approximately 25 acres of recreational ground and the balance in potential plantings. Great Hunting! Seasonal access. This tract has approximately 11,000 Fraser Fir planted in 2005 and 2008.

TRACT 15

Oceana County, Michigan Ferry Township

GPS Coordinates: 43 38 03.87 N 86 16 27.40 W

Directions: From the intersection of Baseline Rd. and 116th Ave. travel south on 116th Ave. 1/2 mile to the end of the road. Tract 15 • 40± Acres: Secluded recreational land with primarily overgrown Douglas Fir. Very rolling topography and very high elevations provides beautiful views and a haven for deer and wildlife. Potential for gravel excavation.

GPS Coordinates: 43 38 12.68 N 86 12 06.46 W

TRACTS 16-17

Oceana County, Michigan Colfax Township Directions: From the intersection of Taylor Rd. and 114th Ave., 8 miles east of Hart, travel south on 114th Ave. 4-1/2 miles to property. Tract 16 • 50± Acres: Rolling land with road frontage on hardsurface 144th Ave. and Warren Road. Consider this tract for its recreational value or secluded potential home site. This tract has a well and old mobile home. Recreational value along stream on the northeast side. Tract 17 • 30± Acres: Frontage on Warren Road with 21,000± Douglas Fir and Blue Spruce planted in 2003/04. Wonderful views to the east from this elevated tract.

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TRACT 18

Oceana County, Michigan

GPS Coordinates: 43 38 14.23 N 86 10 12.69 W

Ferry Township Directions: From the intersection of 144th Ave. and Baseline Rd., travel east on Baseline Rd. 1-1/2 miles to access on south side of the road. Watch for signs. Tract 18 • 40± Acres: Mostly level land with Benona soils. Adjoins Manistee National Forest. Seasonal access. Approximately 39,000 Blue Spruce planted in 2006. 8± Acres of predominately Oak hardwood timber.

GPS Coordinates: 43 36 58.44 N 86 11 32.39 W

TRACT 19

Oceana County, Michigan Ferry Township Directions: From the intersection of 144th Ave. and Pierce Rd., travel east on Pierce Rd. (Becomes 148th Ave.) 3/4 mile to the property. Tract 19 • 40± Acres: Rolling tract with 12,600± Douglas Fir trees planted in 1997. Road frontage on hard surface 148th Ave. and seasonal access from 144th Ave. Possible asparagus ground to the east or fruit ground to the west. Potential building site with views of a small lake to the north and a small stream that runs through the center of the property. 8

TRACT 20

Oceana County, Michigan

Tree Tract

Newfield Township Directions: From the intersection of Pierce Rd., and 160th Ave., travel east on seasonal Pierce Rd. 1/2 mile to the property.

Tract 20 • 100± Acres: Rolling terrain with great recreational and hunting on this tract. Beautiful creek along the east side of the property. Adjoining Manistee National Forest. Seasonal access. Leased trees on Tract 20 (77 Ac.) shall pay $30/Ac. through 2014. GPS Coordinates: 43 37 11.42 N 86 08 53.06 W

TRACT 21

Oceana County, Michigan Leavitt Township

GPS Coordinates: 43 38 48.50 N 86 02 55.02 W

Tree Tract

Directions: From the intersection of 204th Ave. and Filmore Rd. / 7 Mile Rd., just 1/2 mile west of Hwy. 120, travel south on 204th Ave. 1/2 mile to the property. Tract 21 • 39± Acres: Mostly tillable land with Grattan and Berona soils. Road frontage on 204th Ave.

Tree Tract: 109

See Chart for Description of Tree Tracts on Page 23.

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TRACT 22

Oceana County, Michigan Elbridge Township

Tree Tract

Directions: From the intersection of 144th Ave. and Polk Rd, travel east on Polk Rd 0.7 miles to the property on the south side of the road. Tract 22 • 20± Acres: Gently rolling land fronting on Polk Road. Mostly Berona and Spinks soils.

Tree Tract: 110

See Chart for Description of Tree Tracts on Page 23. GPS Coordinates: 43 40 59.62 N 86 10 55.90 W

TRACTS 23-24

Oceana County, Michigan Colfax Township Directions: From the intersection of Harrison Rd. and 168th Ave., travel north on 168th Ave. 1 mile to the property. Tracts 23-24 • 80± Acres: Approximately 55 Acres tillable and 33,600± Scotch Pine and 33,600± Fraser Fir both planted in 2009. Road frontage on 168th Ave. and Van Buren Road. GPS Coordinates: 43 43 51.15 N 86 08 35.84 W

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TRACT 25

Oceana County, Michigan Colfax Township

GPS Coordinates: 43 44 21.11 N 86 06 28.91 W

Directions: From the intersection of Jackson Rd. and 176th Ave., travel east 1/2 mile to 180th Ave. / Rossel Lake Rd. travel south on Rossel Lake Rd. 1/2 mile to the property. Tract 25 • 80± Acres: Mostly tillable land with Benona soils and access from Rossel Lake Rd. Approximately 79,000 Fraser Fir and 2,000± Balsam Fir both planted in 2008.

TRACT 26

Oceana County, Michigan Elbridge Township

GPS Coordinates: 43 43 12.60 N 86 11 42.88 W

Directions: From the intersection of Harrison Rd. and 144th Ave., travel north on 144th Ave. 1/2 mile to the property. Tract 26 • 40± Acres: Good elevation for frost free crops. Consider the fruit site potential. Frontage on hard surface 144th Ave. Approximately 13,000 Douglas Fir planted in 2006 and approximately 20,000 Douglas Fir, 9,500± Fraser Fir, and 6000± Blue Spruce all planted in 2008.

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TRACT 27

Oceana County, Michigan Elbridge Township Directions: From the intersection of 140th Ave. and Tyler Rd., 7 miles east of Hart, travel north on 140th Ave. 1.7 miles to the property on the west side of the road. Tract 27 • 42± Acres: Rolling land with excellent wildlife habitat and potential hunting/ recreation! Cropland Potential. Road frontage on 3 sides. Approximately 4,600 Douglas Fir, 13,000 Fraser Fir and 1,800 Blue Spruce planted in 2003. GPS Coordinates: 43 43 40.90 N 86 12 37.83 W

TRACT 28

Oceana County, Michigan Crystal Township Directions: From the intersection of 144th Ave. and Madison Rd., travel south on 144th Ave. 1-1/2 miles to the property just past Winter Rd. Tract 28 • 27± Acres: Productive tillable land with frontage on Winter Rd. and hard surface 144th Ave. Believed to be the highest point in Oceana County. 29,000± Douglas Fir planted in 2009.

GPS Coordinates: 43 45 09.67 N 86 11 42.23 W

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TRACT 29

Oceana County, Michigan Weare Township Directions: From the intersection of Monroe Rd. and 88th Ave., just 2.3 miles east of Hwy. 31 / Exit 154, travel north on 88th Ave. 1-1/4 mile to the property. Tract 29 • 100± Acres: Mostly level tillable ground with frontage on 88th Ave. and Madison Rd. Very suitable for asparagus, vegetables or row crops. Potential for a central pivot location.

GPS Coordinates: 43 46 48.20 N 86 20 17.38 W

TRACT 30

Mason County, Michigan Riverton Township

Directions: From the intersection of Washington Rd. and Morton Rd. / 80th Ave., just northeast of Pentwater, travel north on Morton Rd. 3 miles to the property. Tract 30 • 31± Acres: Very rolling land with overgrown Douglas Fir. Consider the camping, hunting and recreation on this property. Great elevated views for a potential building site. Potential for gravel excavation.

GPS Coordinates: 43 51 39.25 N 86 21 39.25 W

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GPS Coordinates: 43 55 21.17 N 86 13 03.40 W

TRACT 31

Mason County, Michigan Custer Township Directions: From the intersection of State St. and Main St. / Custer Rd. in Custer, travel south on Custer Rd. 2-1/4 miles to the property. Tract 31 • 25± Acres: Rolling land with Marlette soils. Road frontage on hardsurface Custer Road. Future potential building site. Deer fencing surrounds the property. Approximately 28,000 Fraser Fir planted in 2004.

TRACTS 32-33

Newaygo County, Michigan Denver Township Directions: From the intersection of Hwy. 120 and Hwy. 20 in Hesperia, travel north on Hwy. 120 2-3/4 miles to the property. Tract 32 • 39± Acres: Rolling terrain with frontage on Maple Island Road and 4 Mile Road. Tract 33 • 60± Acres: Rolling terrain with frontage on 4 Mile Road.

Tree Tract: 201

See Chart for Description of Tree Tracts on Page 23. Leased trees on Tract 32 (29 Ac.) and Tract 33 (60 Ac.) shall pay $30/Ac. through 2015. GPS Coordinates: 43 36 32.05 N 86 02 19.22 W

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Tree Tract

TRACT 34

Oceana County, Michigan Shelby Township

GPS Coordinates: 43 36 30.41 N 86 20 47.67 W

Directions: From the intersection of State St. and Ferry St. / Shelby Rd. in Shelby, travel east on Shelby Rd. 3/4 mile to the property. Tract 34 • 34± Acres: Gently rolling land near Shelby. Primarily Benona soil with great potential for fruit planting! Frontage on Shelby Road. Approximately 6,500 Fraser Fir planted in 2006 and approximately 26,000 Douglas Fir planted in 2006/2007.

TRACT 35

Oceana County, Michigan Grant Township

Directions: From the intersection of US 31 and M-20 (exit 140), travel west on M-20 0.1 mile to 64th Ave. Turn south on 64th Ave. and travel 1.0 mile to access to the property. Tract 35 • 10± Acres: Great elevation and views with seasonal access over neighbor. Potential fruit ground.

GPS Coordinates: 43 32 37.02 N 86 23 32.66 W

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GPS Coordinates: 43 39 57.51 N 86 11 52.18 W

TRACTS 36-38

Oceana County, Michigan Elbridge Township Directions: From the intersection of Tyler Rd and 144th Ave., east of Hart, travel south on 144th 2-1/2 miles to the property. Note: These tracts cannot be combined with other tracts in the auction. Tract 36 • 20± Acres: gently rolling land with frontage on Hazel Rd and 144th Ave. Tract 37 • 20± Acres: including a small home and several outbuildings. Wooded tract with mature White Pine and frontage on 144th Ave. Tract 38 • 40± Acres: slightly rolling recreational tract with view of small lake to the east. Nice older barn along frontage on 144th Ave.

Tree Tracts: 111, 112 See

Chart for Description of Tree Tracts on Page 23.

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Tree Tracts

GPS Coordinates: 43 32 36.03 N 86 23 13.27 W

TRACT 39

Oceana County, Michigan Grant Township

Directions: From the intersection of US 31 and M-20 (exit 140), travel east on M-20 0.1 mile to 68th Ave. Turn south on 68th Ave. and travel 1.0 mile to the property.

Tract 39 • 12± Acres: Potential building site across Arthur Rd. from Grandview Golf Course. Potential fruit ground.

TRACTS 40-41

Oceana County, Michigan Leavitt Township Directions: From the intersection of Harrison Rd. and 168th Ave., travel north on 168th Ave. 1/2 mile to the property. Tract 40 • 40± Acres: All tillable land with 30,000± Scotch Pine planted in 2008/2009. Road frontage on both 168th Ave. and Van Buren Rd. Virgin asparagus ground - no phytophthora. Tract 41 • 41± Acres: Approximately 22 Acres tillable with 28,000± Scotch Pine planted in 2008. Road frontage on 168th Ave.

GPS Coordinates: 43 43 23.78 N 86 08 23.02 W

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GPS Coordinates: 43 33 00.73 N 86 12 48.96 W

TRACTS 42-43

Oceana County, Michigan Otto Township Directions: From the intersection of M-20 and Oceana Dr., 2 miles east of US 31 exit 140, travel east on M-20 6 miles to 132nd Ave. Turn south on 132nd Ave. and travel 1 mile to Garfield Rd. Turn east on Garfield Rd. and travel 1/2 mile to 136th Ave. Turn south on 136th Ave. and travel 1/4 mile to the property on the east side of the road. Tract 42 • 40± Acres: Gently rolling land with frontage on 136th Ave. and Yale Rd. Approximately 25,000 Scotch Pine planted in 2000. Tract 43 • 40± Acres: Gently rolling land with frontage on Yale Rd. Approximately 25,000 Scotch Pine planted in 2000. Note: The trees on these tracts are subject to a lease through 2011.

TRACT 44

Oceana County, Michigan Shelby Township Directions: From the intersection of First St. and 72nd Ave., on the west side of Shelby, travel north on 72nd Ave. 1-1/4 miles to the property. Tract 44 • 78± Acres: Mostly wooded, rolling land with some overgown Douglas Fir. Excellent fruit ground or subdivision/building sites. Road frontage on 72nd Ave. Great location close to Shelby. Adjoins the Shelby Industrial Park. GPS Coordinates: 43 37 44.10 N 86 22 40.17 W

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TRACTS 45-47

Newaygo County, Michigan Denver Township

GPS Coordinates: 43 36 57.35 N 85 58 43.64 W

Directions: From the intersection of Green Ave. and Hwy. 20 just east of Hesperia, travel north on Green Ave. 3-1/2 miles to the property.

Tract 45 • 38± Acres: Gently rolling land with frontage on hardsurface Green Ave. and Van Buren St. Adjoins Manistee National Forest to the east. Trees on this tract are subject to a lease through 2013. Tract 46 • 60± Acres: Mostly level land with primarily Plainfield and Coloma soils. Frontage on hardsurface Green Ave. and Van Buren St. Trees on this tract will be harvested by December 1, 2010 Tract 47 • 60± Acres: Gently rolling land with frontage on hardsurface Van Buren St. Adjoins Manistee National Forest to the east. The trees on this tract are subject to a lease through 2015. Note: Potential asparagus and corn production with good location for central pivot system.

TRACT 48

Newaygo County, Michigan Beaver Township Directions: From the intersection of Comstock Ave. and 8 Mile Rd., travel north on Comstock Ave. 2-1/2 miles to the property.

Tract 48 • 76± Acres: Gently rolling land with Coloma soil. Frontage on hard surface Comstock Ave. Approximately 47,000 Scotch Pine planted in 2007 (north field) and 20,000± Scotch Pine planted in 2008 (south field). Excellent potential for asparagus and corn production. GPS Coordinates: 43 42 32.27 N 85 59 50.26 W

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Tree Tract

TRACT 49

Newaygo County, Michigan Beaver Township Directions: From the intersection of Comstock Ave. and 11 Mile Rd., travel west on 11 Mile Rd. 1/2 mile to the property. Tract 49 • 35± Acres: Gently rolling land with frontage on 11 Mile Road near Island Lake. Primarily Coloma soils. Potential asparagus or corn production.

Tree Tract: 202

GPS Coordinates: 43 42 52.70 N 86 00 38.15 W

See Chart for Description of Tree Tracts on Page 23. Tree Tract

TRACT 50

Oceana County, Michigan Elbridge Township Directions: From the intersection of 136th Ave. and Filmore Rd., travel west on Filmore Rd. 1/2 mile to the property. Tract 50 • 21± Acres: Mostly level land with Benona soils. Adjoins Manistee National Forest. Seasonal access. Potential for asparagus.

Tree Tract: 203 See Chart for Description of Tree Tracts on Page 23. GPS Coordinates: 43 39 22.69 N 86 13 44.26 W

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TRACTS 51-52

Tree Tracts

Oceana County, Michigan Leavitt Township Directions: From the intersection of Harrison Rd. and 166th Ave., just west of Walkerville, travel south on 166th Ave. 1/8 mile to the property. Tract 51 • 45± Acres: Nice mixture of tillable land (now planted in trees) and recreational ground. Good potential for asparagus production to the north. Great fruit crop potential to the south with higher elevations. Frontage on 166th Ave. Tract 52 • 62± Acres: Large mostly tillable tract planted to trees. Excellent fruit crop possibilities with high elevations, good air flow and no frost pockets. Frontage on 166th Ave.

Tree Tracts: 204, 205, 206, 207 See Chart for Description of Tree Tracts on Page 23.

GPS Coordinates: 43 39 22.69 N 86 13 44.26 W

TRACT 53

Oceana County, Michigan Hart Township Directions: From the intersection of Oceana Dr. and Baseline Rd. just north of Shelby, travel east on Baseline Rd. 2-1/2 miles to the property. Tract 53 • 81± Acres: Partially rolling land with 20 acres of mature cherry, maple and beech. There is a pole barn on the property, underground electricity, and 4” well. Great fruit crop potential to the south and good potential for asparagus production to the north. Your deer camp awaits! GPS Coordinates: 43 38 55.00 N 86 18 47.29 W

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TIMBER LEASE ONLY TRACTS 111-113 & 208-210 Oceana County, Michigan Elbridge & Leavitt Townships

Trees Only

Directions: Located on Harrison Rd. just 1-1/2 miles east of Walkerville. Tree Tract 208 209 210 111 112 113

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# Trees 10,600+/- FF planted 2002 10,600+/- FF planted 2002 6,300+/- FF planted 2002 19,400+/- FF planted 2003 18,000+/- FF planted 2003 9,700+/- FF planted 2003; 1,650+/- GF planted 2003

Annual $ Per TREE

leased through

$0.14 $0.14 $0.14 $0.14 $0.14

2013 2013 2013 2014 2014

$0.14

2014

Tree Lease Information:

All of the trees being offered at auction will include a pre-existing lease to which the owner of the land where the trees are being grown will be subject. Terms of the lease are described in the following table. For a copy of the lease please contact the Auction Company. Tree Tract

Land Tract

catalog page

201

32

14

202

49

20

203

50

20

204 205 206 207 101 102 103 104 105 106 107 108 109 110

51 51 52 52 1&2 2 2 3 4 11 10 12 21 22

21 21 21 21 4 4 4 4 4 5 5 6 9 10

114

36

16

115

37

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# Trees 7,000+/- FF planted 2003 250+/- WP planted 2001; 1,300+/- SP planted 2001 15,000+/- DF planted 2004/5; 11,000+/FF planted 2005 13,000+/- FF planted 2006 500+/- DF, CF planted 1997 12,000+/- FF planted 2006 20,000+/- FF planted 2007 10,000+/- FF planted 1995 3,900+/- CF planted 2000 1,300+/- NF planted 1998 12,000+/- DF & FF planted 2003 10,000+/- FF planted 1998 21,500+/- FF planted 2001 5,000+/- DF planted 1999 12,000+/- FF planted 2002 10,000+/- FF & DF planted 2000 5,500+/- FF & CF planted 2001 2,400+/- FF planted 2001; 7,600 DF planted 2001 550 BS, NS planted 2001

Approx. Acres

Annual $ Per Acre

leased through

10

$30

2014

30

-

2010

20

$50

2016

10 12 19 20 17 & 12 7 3 11 22 16 17 13 39 18

$50 $50 $50 $50 $50 $50 $50 $50 $50 $40 $50 $50 $50

2018 2010 2018 2019 2011 2011 2011 2014 2011 2014 2011 2014 2011 2011

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$50

2011

6

$50

2011

All lease payments begin in 2011 and all leases end December 31 of Indicated year.

FF: Fraser Fir DF: Douglas Fir CF: Concolor Fir NF: Nordman Fir NS: Norway Spruce

WP: White Pine SP: Scotch Pine NB: Noble Fir GF: Grand Fir

If you are not interested in tree farming Slocum Brothers may be interested in a buy back of the trees and they may be able to care for the trees. Call Auction Company for Details. 23

950 North Liberty Drive Columbia City, IN 46725

Auction Managers:

Kevin Jordan 800-451-2709 Ed Boyer 800-691-7653

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Days: Information h • 3-6PM

st 5t Thursday, Augu 10th • 3-6PM st gu Au Tuesday, th • 3-6PM Friday, August 20 esentative at the

pr Meet a Schrader Reanch in Hart, Michigan Br Shelby State Bankional information. for addit

Call for Detailed Property Information

AUCTION TERMS & CONDITIONS: PROCEDURE: The 53 real estate tracts and 25 leased tree tracts will be offered in individual tracts and in any combination of tracts within the different groups. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts and tract combinations may compete. All bids will be subject to the acceptance or rejection by the owner. DOWN PAYMENT: 10% of the accepted bid price as down payment on the day of auction with the balance in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING. ACCEPTANCE OF BID PRICES: The successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. DEED: Seller shall provide Warranty Deed(s). EVIDENCE OF TITLE: The Owner agrees to split 50:50 the expense of an Owner’s Policy of Title Insurance in the amount of the purchase price. CLOSING: The closing shall take place 30 days after the auction day, or as soon thereafter as applicable closing documents are completed by Owner. Buyer shall pay the cost of closing. POSSESSION: Possession is at closing subject to tree leases. REAL ESTATE TAXES: Seller pays summer 2010 real estate taxes and transfer tax. The Buyer will be responsible for winter 2010 real estate taxes and thereafter. ACREAGE AND TRACTS: All acreages are approximate and have been estimated based on current legal descriptions and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction. SURVEY: The Buyer shall be responsible for any survey for any tract where there is no existing legal description. Any need for a new survey shall be determined solely by

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the Owner. The type of survey performed shall be at the Owner’s option and sufficient for providing title insurance. MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller. TREE TRACTS: Any buyer who purchases trees without purchasing the underlying land must make settlement in full on those trees and sign a lease immediately following the auction. PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled to help in your investigation of the property and will be staffed with auction personnel. AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller. 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. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. STOCK PHOTOGRAPHY: Some pictures are for illustrative purposes only. NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information. SELLERS: Slocum Brothers Tree Farm, Gerald Slocum Trust, Theodore Slocum Trust, Steve & Denise Pagura.