/- Acres in 5 Parcels. Parcels Lines are Approximate and For Illustration Purposes Only

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1 /- Acres in 5 Parcels Parcels Lines are Approximate and For Illustration Purposes Only

2 Table of Contents Property Information Property Description Photographs Locator and Aerial Maps Supporting Documents Assessor Information Taxes Soil Survey Supporting Documents Title Commitment Flood Map Supporting Documents Demographics Terms & Conditions Frequently Asked Questions Terms & Conditions Broker Participation Purchase Contract

3 ATTENTION PROSPECTIVE BIDDERS DISCLAIMER ALL INFORMATION CONTAINED IN THIS AND OTHER ADVERTISEMENTS WAS OBTAINED FROM SOURCES BELIEVED TO BE ACCURATE. HOWEVER, NO WARRANTY OR GUARANTEE, EITHER EXPRESSED OR IMPLIED, IS INTENDED OR MADE. ALL PURCHASERS MUST INDEPENDENTLY INVESTIGATE AND CONFIRM ANY INFORMATION OR ASSUMPTIONS ON WHICH ANY BID IS BASED. NEITHER AUCTION COMPANY NOR SELLERS SHALL BE LIABLE FOR ANY ERRORS OR THE CORRECTNESS OF INFORMATION. THIS PROPERTY IS OFFERED FOR SALE TO QUALIFIED PURCHASERS WITHOUT REGARD TO POTENTIAL PURCHASHER S RACE, COLOR, RELIGION, SEX, MARITAL STATUS OR NATIONAL ORIGIN. ALL ANNOUNCEMENTS MADE AT THE AUCTION OR IN THE BID OFFERING, TAKE PRECEDENCE OVER ANY OTHER INFORMATION OR PRINTED MATTER. PROPERTY MAY BE ADDED OR DELETED WITHOUT NOTICE OR PENALTY. PROPERTY IS SOLD AS-IS WHERE-IS WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND, INCLUDING ANY REPRESENTATIONS REGARDING ENVIRONMENTAL CONDITIONS AND FITNESS FOR PARTICULAR USE, MERCHANTIBILTY OR OWNERSHIP. THE AUCTION COMPANY, BROKER AND THE SELLER, THEIR SUCCESSORS AND ASSIGNS, DO NOT MAKE OR HAVE MADE ANY REPRESENTATION OR WARRANTY WITH RESPECT TO THE ACCURACY, CORRECTNESS, OR COMPLETENESS OF THE INFORMATION, THE CONTENTS OR MEANING OF THE INFORMATION CONTAINED HEREIN, OR THE VALUATION OF THE PROPERTY. ANY DECISION TO PURCHASE OR NOT TO PURCHASE THE PROPERTY DESCRIBED IS THE SOLE AND INDEPENDENT BUSINESS DECISION OF THE POTENTIAL PURCHASER. NO RECOURSE OR CAUSE OF ACTION WILL LIE AGAINST ANY OF THE HERE-IN PARTIES SHOULD PURCHASER BECOME DISSATISFIED WITH ITS DECISION, WHATEVER IT MAY BE, AT A LATER TIME.

4 TAA-1218 Auction Property Information AUCTION SUMMARY IIndiianapolliis Area Lake Retreat and Land Auctiion /- Acres in Five Parcels 6,761+/- Square Foot Home/Lodge including 2 three car garages. Picturesque Stocked Lake with 1.5+/- Miles of Shoreline. Lake Frontage on Four of the Five Land Parcels Convenient location, 15 Minutes from Indianapolis Airport. Buy One, Multiple or All of the Parcels for Unsurpassed Privacy. Excellent Development Opportunity, Retreat or Residence. REAL ESTATE AUCTIION Property Address: 8462 North Baltimore Road, Monrovia, Indiana Auction: May 17th at 12:00PM ET Public Inspection May 6th from 12:00pm to 3:00pm May 16th from 3:00pm to 6:00pm Don t Miss this Opportunity to Buy a Fantastic Property at Your Price!

5 Tranzon Asset Advisors, Edward D. Durnil, Auctioneer/Broker #AU Title Commitment: A title commitment will be provided by HBI Title Services, Inc. Terms of Sale: 10% Buyer s Premium will be added to the high bid. All bidders will be required to provide certified funds in order to be qualified to bid. The initial deposit of $25,000 is required to obtain a bidder number. Final deposit is 10% of the selling price (bid + 10% Buyer s Premium) or $25,000 whichever is higher. The balance of the tenpercent (10%) earnest money must be made payable to escrow agent HBI Title Services, Inc. Balance of the contract price due at or before closing. Closing shall occur on or before June 19, All property is sold in as is condition. Seller shall convey ownership via Special Warranty Deed. Title insurance for the amount of the contract price will be available at closing at Seller s expense. Tranzon Asset Advisors shall pay a referral fee of two-percent (2%) of the winning bid to any cooperating broker who registers a client that subsequently closes. Brokers must register their prospective buyer on the form available on our web site, with the signature of the broker and the prospective buyer. This offering is subject to errors, omission, or withdrawal without notice

6 Hickory Woods Nestled away, just 15 minutes from the Indianapolis airport, in the quiet community of Monrovia, this /- acre property offers an exceptional opportunity for many buyer types. Whether you are looking for a home just outside of town with unsurpassed privacy and your own fishing lake and hunting acreage, a weekend get-away or a development opportunity - this property is for you! Entering through the automatic, electronically controlled, security gates, you will drive ½ mile through a beautiful hardwood forest and along meadows on your private paved driveway. Upon exiting the wooded area, you are in view of the lake and graciously understated home. The 6,761+/- square foot (including garages) residence, at only five years old, has two three car garages and many more features including an open and spacious floor plan, state of the art granite counter tops, two rustic rock fireplaces, sunroom/reading room facing the lake, two master suites and many more amenities too numerous to mention. The fully stocked lake is a site of its own offering excellent fishing or just take a relaxing boat ride and enjoy quietness and privacy of the great outdoors. Access to the lake is convenient as well with a concrete boat ramp and a covered boat dock, which is perfect for storing your boat and cleaning the catch of the day. This entire property was designed and built with recreation and relaxation in mind. The property is being offered at auction in five estate sized parcels and will also be offered as a whole or in combinations for those purchasers who may want to keep the entire property as is or combine two or more parcels. Four of the five parcels have lake frontage and surveyed easements from the street; parcel number one, also extends via a 50 foot strip of owned land to Biarhopper Rd/ Bramble Wood Ln for additional private access. The sellers of this property are highly motivated and intent on selling this property at the auction. The sellers also reserve the right to withdraw this property from the auction if an acceptable offer is made prior to the auction date. Please contact us if you have any questions or would like to make a pre-auction offer. We look forward to serving you on this exceptional property!

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10 PHOTOGRAPHS

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24 MAPS

25 Locator & Aerials Maps Parcels Lines are Approximate and For Illustration Purposes Only

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28 ASSESSOR S INFORMATION

29 Property Report Card for parcel /21/12 3:22 PM Morgan County, IN Property Assessment Detail Report Parcel Number : Parcel Information Parcel Number: Alt Parcel Number: Property Address: N BALTIMORE RD MONROVIA, IN Neighborhood: Property Class: Legal Description: Owner Name: Owner Address: Entire Township Gregg Vacant Land S23 T13 R1W PT SE NE; 20.57Ac per Survey Elrod, Dale K 1/2 Int. & Elrod, Jeffrey L 1/2 Int Ashwood Ct Greenwood, IN Taxing District Township: GREGG TOWNSHIP Corporation: MONROE-GREGG SCHOOL DISTRICT Land Description Land Type Acreage Dimensions Transfer Of Ownership Date Name Deed Book Deed Page ELROD DALE K 1/2 INT & ELROD CHANGED TO 20.57AC MP STOKES DOUGLAS & REBECCA SPLIT 1.83 A TO SMOCK CHARLES & ALMA NO CHANGE SURVEY Valuation Record Assessment Date Reason for Change Land Improvements Total Valuation GENERAL REVALUATION % AV initialized GENERAL REVALUATION Ag land update SPLIT Annual Adjustment Annual Adjustment SURVEY Annual Adjustment Annual Adjustment Annual Adjustment Annual Adjustment Annual Adjustment Page 1 of 2

30 Property Report Card for parcel /21/12 3:22 PM Public Utilities Water: Y Sewer: N Gas: N Electricity: Y All: N Exterior Features Exterior Feature Size/Area Summary Of Improvements Description Special Features Size/Area Buildings Grade Condition Construction Year Effective Year Area Page 2 of 2

31 Tax Information - Morgan County, IN 3/21/12 3:24 PM Print 2010 PAYABLE 2011 TAX INFORMATION - Morgan County, IN Property : Note: Some of the information provided may be incomplete. To verify please contact the Treasurer's office. Parcel Information Tax ID: Owner Name: Owner Address: Legal Description: Elrod, Dale K 1/2 Int. & Elrod, Jeffrey L 1/2 Int Ashwood Ct Greenwood, IN S23 T13 R1W PT SE NE; 20.57Ac per Survey Credit Rates Type Rate Type Credits Amount Business Non Replacement 8.42 CEDT 1.52 LOIT Replacement Circuit Breaker 2.00 Installments Tax Set Charge Type Total Charge Posted Payment Balance Due GREGG TOWNSHIP 1st Installment Tax $20.18 $20.18 $0.00 GREGG TOWNSHIP 2nd Installment Tax $20.18 $20.18 $0.00 Payment Summary Delinquent Tax: $0.00 Penalty: $0.00 Pay By May 10, 2011: $0.00 Pay By November 10, 2011: $0.00 Links DLGF Page 1 of 1

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33 Property Report Card for parcel /21/12 3:27 PM Morgan County, IN Property Assessment Detail Report Parcel Number : Parcel Information Parcel Number: Alt Parcel Number: Property Address: N BALTIMORE RD MONROVIA, IN Neighborhood: Property Class: Legal Description: Owner Name: Owner Address: Entire Township Gregg Vacant Land S24 T13 R1W PT SW NW.;.371 Ac per Survey Elrod, Dale K & Elrod, Jeffrey L TIC 1570 Ashwood Ct Greenwood, IN Taxing District Township: GREGG TOWNSHIP Corporation: MONROE-GREGG SCHOOL DISTRICT Land Description Land Type Acreage Dimensions Transfer Of Ownership Date Name Deed Book Deed Page ELROD DALE K & ELROD JEFFREY L CHANGED TO.371AC STOKES DOUGLAS & REBECCA SPLIT.08 A TO NO CHANGE SURVEY Valuation Record Assessment Date Reason for Change Land Improvements Total Valuation GENERAL REVALUATION % AV initialized GENERAL REVALUATION SPLIT Annual Adjustment Annual Adjustment SURVEY Annual Adjustment Annual Adjustment Annual Adjustment Annual Adjustment Annual Adjustment Page 1 of 2

34 Property Report Card for parcel /21/12 3:27 PM Public Utilities Water: Y Sewer: N Gas: N Electricity: Y All: N Exterior Features Exterior Feature Size/Area Summary Of Improvements Description Special Features Size/Area Buildings Grade Condition Construction Year Effective Year Area Page 2 of 2

35 Tax Information - Morgan County, IN 3/21/12 3:28 PM Print 2010 PAYABLE 2011 TAX INFORMATION - Morgan County, IN Property : Note: Some of the information provided may be incomplete. To verify please contact the Treasurer's office. Parcel Information Tax ID: Owner Name: Owner Address: Legal Description: Elrod, Dale K & Elrod, Jeffrey L TIC 1570 Ashwood Ct Greenwood, IN S24 T13 R1W PT SW NW.;.371 Ac per Survey Credit Rates Type Rate Type Credits Amount LOIT Non Replacement 0.21 Replacement Circuit Breaker 2.00 Business CEDT 1.52 Installments Tax Set Charge Type Total Charge Posted Payment Balance Due GREGG TOWNSHIP 1st Installment Tax $2.50 $2.50 $0.00 GREGG TOWNSHIP 2nd Installment Tax $2.50 $2.50 $0.00 Payment Summary Delinquent Tax: $0.00 Penalty: $0.00 Pay By May 10, 2011: $0.00 Pay By November 10, 2011: $0.00 Links DLGF Page 1 of 1

36 Property Report Card for parcel /21/12 3:36 PM Morgan County, IN Property Assessment Detail Report Parcel Number : Parcel Information Parcel Number: Alt Parcel Number: Property Address: N BALTIMORE RD MONROVIA, IN Neighborhood: Property Class: Legal Description: Owner Name: Owner Address: Entire Township Gregg Other Agricultural Use S23 T13 R1W PT SW NE; Ac per Survey Elrod, Dale K 1/2 Int. & Elrod, Jeffrey L 1/2 Int Ashwood Ct Greenwood, IN Taxing District Township: GREGG TOWNSHIP Corporation: MONROE-GREGG SCHOOL DISTRICT Land Description Land Type Acreage Dimensions Transfer Of Ownership Date Name Deed Book Deed Page ELROD DALE K 1/2 INT & ELROD AC CONFIRMED AS 40.5 MP STOKES DOUGLAS & REBECCA SMOCK CHARLES & ALMA NO CHANGE SURVEY Valuation Record Assessment Date Reason for Change Land Improvements Total Valuation GENERAL REVALUATION % AV initialized Page 1 of 3

37 Property Report Card for parcel /21/12 3:36 PM GENERAL REVALUATION Ag land update Annual Adjustment Annual Adjustment SURVEY Annual Adjustment Annual Adjustment Annual Adjustment NEW CONSTRUCTION - COMPLETE STRUCTURE Annual Adjustment Annual Adjustment Public Utilities Water: Y Sewer: N Gas: N Electricity: Y All: N Exterior Features Exterior Feature Size/Area Summary Of Improvements Description Special Features Size/Area Buildings Grade Condition Construction Year Effective Year Area Utility Shed R 1 B A Photos and Sketches Page 2 of 3

38 Property Report Card for parcel /21/12 3:36 PM Page 3 of 3

39 Tax Information - Morgan County, IN 3/21/12 3:37 PM Print 2010 PAYABLE 2011 TAX INFORMATION - Morgan County, IN Property : Note: Some of the information provided may be incomplete. To verify please contact the Treasurer's office. Parcel Information Tax ID: Owner Name: Owner Address: Legal Description: Elrod, Dale K 1/2 Int. & Elrod, Jeffrey L 1/2 Int Ashwood Ct Greenwood, IN S23 T13 R1W PT SW NE; Ac per Survey Credit Rates Type Rate Type Credits Amount Business Non Replacement Circuit Breaker 2.00 LOIT CEDT 1.52 Replacement Installments Tax Set Charge Type Total Charge Posted Payment Balance Due GREGG TOWNSHIP 1st Installment Tax $ $ $0.00 GREGG TOWNSHIP 2nd Installment Tax $ $ $0.00 Payment Summary Delinquent Tax: $0.00 Penalty: $0.00 Pay By May 10, 2011: $0.00 Pay By November 10, 2011: $0.00 Links DLGF Page 1 of 1

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41 Property Report Card for parcel /21/12 3:40 PM Morgan County, IN Property Assessment Detail Report Parcel Number : Parcel Information Parcel Number: Alt Parcel Number: Property Address: Neighborhood: Property Class: N BALTIMORE RD MONROVIA, IN Entire Township Gregg Cash Grain/General Farm Legal Description: S23 T13 R1W NW SE.; Ac per Survey Owner Name: Owner Address: Elrod, Dale K 1/2 Int. & Elrod, Jeffrey L 1/2 Int Ashwood Ct Greenwood, IN Taxing District Township: GREGG TOWNSHIP Corporation: MONROE-GREGG SCHOOL DISTRICT Land Description Land Type Acreage Dimensions Transfer Of Ownership Date Name Deed Book Deed Page ELROD DALE K 1/2 INT & ELROD CHANGED TO 40.21AC MP STOKES DOUGLAS & REBECCA SMOCK CHARLES & ALMA NO CHANGE SURVEY Valuation Record Assessment Date Reason for Change Land Improvements Total Valuation GENERAL REVALUATION % AV initialized GENERAL REVALUATION Ag land update Annual Adjustment NEW CONSTRUCTION - INCOMPLETE STRUCTURE Annual Adjustment SURVEY Annual Adjustment Annual Adjustment Annual Adjustment Annual Adjustment Annual Adjustment Page 1 of 3

42 Property Report Card for parcel /21/12 3:40 PM Public Utilities Water: Y Sewer: N Gas: N Electricity: Y All: N Exterior Features Exterior Feature Size/Area Stoop, Masonry 144 Porch, Enclosed Frame 324 Stoop, Masonry 144 Summary Of Improvements Description Special Features Size/Area Buildings Grade Condition Construction Year Effective Year Area Single-Family R 1 B+2 A Boat House R 2 C A Single-Family R 1 Residential Dwelling Information Accommodations BedRooms: 3 Finished Rooms: 5 Plumbing Full Baths: 3 Half Baths: 1 Full Baths Fixtures: Half Baths Fixtures: 9 3 Kitchen Sinks: 1 Additional Fixtures: 3 Other Fireplaces: 1 Heat Type: Central Warm Air Air Cond. Area: 4737 Attached Garages: 2024 Floors Floor Construction Base Finished C /6 Masonry /2 Wood Frame Photos and Sketches Page 2 of 3

43 Property Report Card for parcel /21/12 3:40 PM Page 3 of 3

44 Tax Information - Morgan County, IN 3/21/12 3:40 PM Print 2010 PAYABLE 2011 TAX INFORMATION - Morgan County, IN Property : Note: Some of the information provided may be incomplete. To verify please contact the Treasurer's office. Parcel Information Tax ID: Owner Name: Owner Address: Legal Description: Elrod, Dale K 1/2 Int. & Elrod, Jeffrey L 1/2 Int Ashwood Ct Greenwood, IN S23 T13 R1W NW SE.; Ac per Survey Credit Rates Type Rate Type Credits Amount Business Non Replacement LOIT Circuit Breaker 2.00 Replacement CEDT 1.52 Installments Tax Set Charge Type Total Charge Posted Payment Balance Due GREGG TOWNSHIP 1st Installment Tax $1, $1, $0.00 GREGG TOWNSHIP 2nd Installment Tax $1, $1, $0.00 Payment Summary Delinquent Tax: $0.00 Penalty: $0.00 Pay By May 10, 2011: $0.00 Pay By November 10, 2011: $0.00 Links DLGF Page 1 of 1

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52 TITLE COMMITMENT

53 American Land Title Association ALTA Commitment Form Adopted Fidelity National Title Insurance Company Commitment Number: HU INC SCHEDULE A 1. Effective Date: March 20, 2012 at 06:59 AM 2. Policy or Policies to be issued: Amount (a) X Owner's Policy ( ALTA Own. Policy (06/17/06) ) Proposed Insured: To Be Determined Amount To Be Determined (b) X Loan Policy ( ALTA Loan Policy (06/17/06) ) Proposed Insured: To Be Determined Amount To Be Determined 3. The estate or interest in the land described or referred to in this Commitment is Fee Simple. 4. Title to the Fee Simple estate or interest in the land is at the Effective Date vested in: Dale K. Elrod and Jeffrey L. Elrod, as Tenants in Common, each with an undivided one-half interest therein, by deed recorded July 31, 2007 in Instrument Number and an Affidavit of Scrivener's Error (to correct legal description on above recorded Deed) recorded July 31, 2007 in Instrument Number in the Office of the Recorder of Morgan County. 5. The land referred to in the Commitment is described as follows: SEE EXHIBIT A ATTACHED HERETO Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. (HU INC.pfd/HU INC/3)

54 American Land Title Association ALTA Commitment Form Adopted Fidelity National Title Insurance Company Commitment Number: HU INC SCHEDULE B 1. Requirements: a. The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest, mortgage or lien to be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to wit: b. Warranty Deed executed by Fee Simple Title Holder vesting fee simple title to Proposed Insured, as shown in Schedule A. c. State Form (R9/7-09) "DISCLOSURE OF SALES INFORMATION" must be completed by the Buyer and Seller and attached to the deed or other document transferring title before the document will be recorded by the County Recorder. d. Mortgage executed by proposed Mortgagor to the proposed insured lender. e. Payment and Release of Mortgage from Dale K. Elrod and Jeffrey L. Elrod, as tenants in common, each with an undivided 1/2 interest, to The National Bank of Indianapolis, in the amount of 1,000,000.00, dated January 08, 2008 and filed on January 28, 2008, and recorded in Instrument No. Instrument No , of the Morgan County Records. f. As per the purchase agreement, current taxes and/or drain assessments as shown in Schedule B-Section 2 are to be paid. g. Mortgagors Affidavit(s) to be furnished. h. Vendors Affidavit to be furnished. i. Certificate signed by the Clerk-Treasurer of the Municipality stating there are no unpaid municipal assessments and/or special assessments on the insured real estate. j. NOTE: By virtue of I.C , a fee of $5 will be collected from the purchaser of the policy for each policy issued in conjunction with a closing occurring on or after July 1, The fee should be designated in the 1100 series of the HUD form as a TIEFF (Title Insurance Enforcement Fund Fee) charge. k. NOTE: If Fidelity National Title Insurance Company will be serving as the closing agent and this closing will take place on or after July 1, 2009, funds provided in excess of $10, must be wired and funds less than $10, must be good funds in compliance with IC l. Legal description must be approved prior to any transfer. 2. Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. (HU INC.pfd/HU INC/3)

55 American Land Title Association ALTA Commitment Form Adopted Commitment Number: HU INC SCHEDULE B (Continued) same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the land. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Taxes or special assessments which are not shown as existing liens by the public records. 6. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires for the value of record the estate or interest or mortgage thereon covered by this commitment. 7. Taxes for the year 2011 due and payable 2012 each installment for $1, are assessed in the name of Dale K. Elrod and Jeffrey L. Elrod, each with an undivided 1/2 interest. 1st installment amount is Unpaid. 2nd installment amount is Unpaid. Taxing Unit: Gregg Township. Assessed Value: Land- $30,500.00; Improvements- $347,900.00; Exemptions- $0.00 (None). Tax Identification Number Brief Legal Description S23 T13 R1W NW SE Ac per Survey. Taxes for the year 2011 due and payable 2012 each installment for $22.00 are assessed in the name of Dale K. Elrod and Jeffrey L. Elrod, each with an undivided 1/2 interest. 1st installment amount is Unpaid. 2nd installment amount is Unpaid. Taxing Unit: Gregg Township. Assessed Value: Land- $4,600.00; Improvements- $0.00; Exemptions- $0.00 (None). Tax Identification Number , Brief Legal Description S23 T13 R1W Pt SE NE 20.57Ac per Survey. Taxes for the year 2011 due and payable 2012 each installment for $ are assessed in the name of Dale K. Elrod and Jeffrey L. Elrod, each with an undivided 1/2 interest. 1st installment amount is Unpaid. 2nd installment amount is Unpaid. Taxing Unit: Gregg Township. Assessed Value: Land- $22,500.00; Improvements- $2,700.00; Exemptions- $0.00 (None). Tax Identification Number Brief Legal Description S23 T13 R1W Pt SW NE Ac per Survey. Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. (HU INC.pfd/HU INC/3)

56 American Land Title Association ALTA Commitment Form Adopted Commitment Number: HU INC SCHEDULE B (Continued) Taxes for the year 2011 due and payable 2012 each installment for $2.50 are assessed in the name of Dale K. Elrod and Jeffrey L. Elrod, each with an undivided 1/2 interest. 1st installment amount is Unpaid. 2nd installment amount is Unpaid. Taxing Unit: Gregg Township. Assessed Value: Land- $100.00; Improvements- $0.00; Exemptions- $0.00 (None). Tax Identification Number Brief Legal Description S24 T13 R1W SW NW.371 Ac per Survey. Taxes for the year 2012 are a lien, due in 2013, but are not yet due and payable. NOTE: Added improvements in place as of March 1, 2012 are subject to assessment which could increase the tax amounts due in 2013, in such cases, the Town or Township assessor should be contacted relative to possible new assessment amounts. NOTE: The real estate tax information set forth above is all that is currently available in the County Tax computer. Recent computer program changes may have rendered incomplete or inaccurate the available data. THIS INFORMATION MAY NOT BE SUFFICIENT FOR THE PURPOSE OF ESTABLISHING A PROPER REAL ESTATE TAX ESCROW. Neither the Company nor its agent, assume or accept any responsibility for loss, damage, cost or expense due to, or arising out of the unavailability of accurate tax information. 8. Right-of-Way Grant, by and between George Washington Koehne and Mary Koehne, his wife, and Gulf Pipe Line Company of Pennsylvania, a Delaware corporation recorded October 27, 1930 as Book 11, page 247, of the Morgan County records. Miscellaneous document indicating name change recorded March 10, 1958 as Book 148, pages 29-49, of the Morgan County records. Assignment of Right-of-Way to Williams Brothers Pipeline Company recorded April 13, 1973 as Book 232, page 255, of the Morgan County records. Partial Assignment of Right-of-Way to Williams Telecommunications Company, a Delaware corporation, recorded December 1, 1986 as Book 94, pages , of the Morgan County records. Amendment of Right-of-Way Agreement recorded July 5, 1996 as Book 140, page , of the Morgan County records. 9. Agreement for Right of Way, by and between Myron R. Koehne and Marie E. Koehne and Citizens By Products Coal Company recorded August 9, 1960 as Book 160, page 409, of the Morgan County records. 10. Transmission Line Easement, by and between Myron R. Koehne and Marie E. Koehne, Husband and Wife and Indianapolis Power & Light Company recorded April 9, 1964 as Book 183, pages , of the Morgan County records. 11. Water Line Easement, by and between Charles Smock and Alma Smock and Morgan County Rural Water Corporation recorded May 26, 1993 as Book 355, page 542, of the Morgan County records. 12. Right-of-Way Easement, by and between Dale K. Elrod and Jeffrey L. Elrod and South Central Indiana Rural Electric Membership Corporation recorded September 7, 2006 as Instrument # , of the Morgan County records. Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. (HU INC.pfd/HU INC/3)

57 American Land Title Association ALTA Commitment Form Adopted Commitment Number: HU INC SCHEDULE B (Continued) 13. Water Utility Easement, by and between Dale K. Elrod and Jeffrey L. Elrod and Morgan County Rural Water Corporation recorded October 24, 2006 as Instrument # , of the Morgan County records. 14. Terms and conditions of Lake Access Easements, Property Use and Maintenance Agreement, by and between Dale K. Elrod and Jeffrey L. Elrod recorded April 21, 2011 as Instrument # , of the Morgan County records. 15. Terms and conditions of Driveway Easements and Maintenance Agreement, by and between Dale K. Elrod and Jeffrey L. Elrod recorded April 21, 2011 as Instrument # , of the Morgan County records. 16. Rights of upper, lower, and/or abutting riparian owners, the State of Indiana, the County, and/or the public in and to the water of Morel Lake, and to the uninterrupted natural flow thereof free of pollution from the insured premises and subject to the possibilities of accretion or avulsion which might change boundaries established by said waters. 17. Rights, if any, of the property owners abutting the insured premises in and to the waters of the adjoining lake and in and to the bed thereof, also boating and fishing rights of property owners abutting the lake or stream of water leading thereto and therefrom. 18. Rights of others thereto and entitled in and to the continued uninterrupted flow of the stream/river passing through the insured premises. 19. Excepting any part thereof resulting through change in the course of the shore line of Morel Lake occasioned by other than natural causes or by natural causes other than accretion. 20. NOTE: Fidelity National Title Insurance Company has not conducted a state court judgment search against the purchaser, as any state court judgment against the purchaser is subordinate to the insured mortgage herein pursuant to Indiana Code which states: PURCHASE MONEY MORTGAGE Sec. 4. A Mortgage granted by a purchaser to secure purchase money has priority over a prior judgment against the Purchaser. 21. By virtue of I.C , a fee of $5 will be collected from the purchaser of the policy for each policy issued in conjunction with a closing occurring on or after July 1, The fee should be designated in the 1100 series of the HUD form as a TIEFF (Title Insurance Enforcement Fund Fee) charge. Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. (HU INC.pfd/HU INC/3)

58 Fidelity National Title Insurance Company Commitment Number: HU INC EXHIBIT A PROPERTY DESCRIPTION The land referred to in this Commitment is described as follows: PARCEL I: The Southwest Quarter of the Northeast Quarter of Section 23, Township 13 North, Range 1 West, Morgan County, Indiana. ALSO: A strip of land one (1) rod in width off the North end of the Southeast Quarter of the Northwest Quarter of said Section 23, Township 13 North, Range 1 West, Morgan County, Indiana. PARCEL II: The Southeast Quarter of the Northeast Quarter of said Section 23, Township 13 North, Range 1 West, Morgan County, Indiana, EXCEPT 20 acres off the North end thereof. ALSO EXCEPT: A part of the Southeast Quarter of the Northeast Quarter of Section 23, Township 13 North, Range 1 West, Morgan County, Indiana, more particularly described as follows, to-wit: Beginning at a stone which marks the East half mile corner of said Section 23 and running thence West along the mid line of the Section for 73.8 feet to an iron pipe; thence running North parallel with the East line of the section for feet to an iron pipe; thence running East for 73.8 feet to an iron pipe on the section line; thence running South along the section line for feet to the PLACE OF BEGINNING. PARCEL III: The Northwest Quarter of the Southeast Quarter of Section 23, Township 13 North, Range 1 West, Morgan County, Indiana. PARCEL IV: A part of the Southwest Quarter of the Northwest Quarter of Section 24, Township 13 North, Range 1 West, of Morgan County, Indiana, more definitely described as follows, to-wit: Beginning at an iron pipe on the West line of said Section 24, which is feet North of the stone which marks the West half mile corner and running thence East for 55.4 feet to an iron spike in the center of the County Highway commonly called the Baltimore Road; thence running Northwesterly with the center of the highway for feet to an iron spike where the highway centerline intersects the West line of the Section; thence running South along the section line for feet to the PLACE OF BEGINNING, containing 0.45 acres, except.08 acres in said Section 24 (deed ref. Instrument No ), more or less.payment and Release of Mortgage from to, in the amount of, dated and filed on, and recorded in Instrument No., of the Morgan County Records N. Baltimore Road, Monrovia, IN Tax Identification Number: , , , ALTA Commitment Exhibit A (HU INC.pfd/HU INC/3)

59 FLOOD MAP

60 PROPERTY ADDRESS: Lat%3A %2C+Lon%3A %0D%0A FLOODSCAPE Map Number B Effective Date June 1, 1981 Flood Legend High flood risk Moderate flood risk Low flood risk This report makes no representations or warranties concerning its content, accuracy or completeness. STDBonline.com Powered by FloodSource FLOOD SourceProse Corporation. All rights reserved. Protected by U.S. Patent Numbers , , , and

61 DEMOGRAPHICS & TRAFFIC COUNTS

62 Executive Summary with Charts Prepared by Edward Durnil Monrovia Latitude: N Baltimore Rd, Monrovia, IN, Longitude: Ring: 1 mile radius Population and Households The size of the market area, measured by population and households, has changed from 2000 through the forecast year as follows: Year Population Households The difference between change in population and change in households is a result of two factors-the presence of group quarters (non-household) population in the market area and the average number of persons per household. The group quarters population in the market area was 0 in 2000, or 0.0 percent of the total population. Average household size is 2.69 in 2010, compared to 2.75 in the year Population Households Population by Age The median age for the United States was 35.3 in 2000 and 36.7 in the current year. In the market area, the median age of the population was 37.5, compared to 42.6 years currently. By age group, the changes in the percent distribution of the market area population show the following: Percent Population by Education In 2010, the educational attainment of the population aged 25 years or older in the market area can be summarized: % High School Grad % Bachelor's Degree Market Area U.S. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and Esri converted 1990 Census data into 2000 geography Esri 3/22/2012 Page 1 of 3

63 Executive Summary with Charts Prepared by Edward Durnil Monrovia Latitude: N Baltimore Rd, Monrovia, IN, Longitude: Ring: 1 mile radius Population by Race/Ethnicity Currently, the racial composition of the population in the market area breaks down as follows: Percent White 72.7 Black Am. Ind Asian Pacific Market Area U.S. Other Two Persons of Hispanic origin represent 0.2 percent of the population in the identified market area compared to 15.0 percent of the U.S. population. Persons of Hispanic Origin may be of any race. In sum, the Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, was 3.3 in the identified market area, compared to 59.3 in the U.S. population. Population by Employment In 2000, 64.0 percent of the population aged 16 years or older in the market area participated in the labor force; 0.0 percent were in the Armed Forces. Tracking the change in the labor force by unemployment status: Year %Employed %Unemployed Market Area U.S. And by occupational status: White Collar Service Blue Collar Market Area U.S. In 2000, 82.4 percent of the market area population drove alone to work, and 3.4 percent worked at home. The average travel time to work in 2000 was 31.1 minutes in the market area, compared to the U.S. average of 25.5 minutes. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and Esri converted 1990 Census data into 2000 geography Esri 3/22/2012 Page 2 of 3

64 Executive Summary with Charts Prepared by Edward Durnil Monrovia Latitude: N Baltimore Rd, Monrovia, IN, Longitude: Ring: 1 mile radius Income The change in three summary measures of income-median and average household income and per capita income-are shown below from 1990 through 2015: Med HH $ Avg HH $ Per Cap $ Housing Currently, 80.5 percent of the 195 housing units in the market area are owner occupied; 11.3 percent, renter occupied; and 8.2 percent are vacant. In 2000, there were 169 housing units percent owner occupied, 10.5 percent renter occupied and 5.8 percent vacant. The annual rate of change in housing units since 2000 is 1.41 percent. Median home value in the market area is $122,768, compared to a median home value of $157,913 for the U.S. In five years, median home value is projected to change by 1.02 percent annually to $129,167. From 2000 to the current year, median home value changed by 1.16 percent annually. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and Esri converted 1990 Census data into 2000 geography Esri 3/22/2012 Page 3 of 3

65 Executive Summary with Charts Prepared by Edward Durnil Monrovia Latitude: N Baltimore Rd, Monrovia, IN, Longitude: Ring: 3 miles radius Population and Households The size of the market area, measured by population and households, has changed from 2000 through the forecast year as follows: Year Population Households ,794 1, ,250 1, ,359 1,581 The difference between change in population and change in households is a result of two factors-the presence of group quarters (non-household) population in the market area and the average number of persons per household. The group quarters population in the market area was 0 in 2000, or 0.0 percent of the total population. Average household size is 2.78 in 2010, compared to 2.84 in the year Population Households Population by Age The median age for the United States was 35.3 in 2000 and 36.7 in the current year. In the market area, the median age of the population was 37.4, compared to 41.2 years currently. By age group, the changes in the percent distribution of the market area population show the following: Percent Population by Education In 2010, the educational attainment of the population aged 25 years or older in the market area can be summarized: % High School Grad % Bachelor's Degree Market Area U.S. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and Esri converted 1990 Census data into 2000 geography Esri 3/22/2012 Page 1 of 3

66 Executive Summary with Charts Prepared by Edward Durnil Monrovia Latitude: N Baltimore Rd, Monrovia, IN, Longitude: Ring: 3 miles radius Population by Race/Ethnicity Currently, the racial composition of the population in the market area breaks down as follows: Percent White 72.7 Black Am. Ind Asian Pacific Market Area U.S. Other Two Persons of Hispanic origin represent 0.7 percent of the population in the identified market area compared to 15.0 percent of the U.S. population. Persons of Hispanic Origin may be of any race. In sum, the Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, was 4.6 in the identified market area, compared to 59.3 in the U.S. population. Population by Employment In 2000, 65.6 percent of the population aged 16 years or older in the market area participated in the labor force; 0.0 percent were in the Armed Forces. Tracking the change in the labor force by unemployment status: Year %Employed %Unemployed Market Area U.S. And by occupational status: White Collar Service Blue Collar Market Area U.S. In 2000, 81.9 percent of the market area population drove alone to work, and 3.1 percent worked at home. The average travel time to work in 2000 was 30.6 minutes in the market area, compared to the U.S. average of 25.5 minutes. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and Esri converted 1990 Census data into 2000 geography Esri 3/22/2012 Page 2 of 3

67 Executive Summary with Charts Prepared by Edward Durnil Monrovia Latitude: N Baltimore Rd, Monrovia, IN, Longitude: Ring: 3 miles radius Income The change in three summary measures of income-median and average household income and per capita income-are shown below from 1990 through 2015: Med HH $ Avg HH $ Per Cap $ Housing Currently, 77.6 percent of the 1,685 housing units in the market area are owner occupied; 13.2 percent, renter occupied; and 9.1 percent are vacant. In 2000, there were 1,398 housing units percent owner occupied, 12.3 percent renter occupied and 5.8 percent vacant. The annual rate of change in housing units since 2000 is 1.84 percent. Median home value in the market area is $121,187, compared to a median home value of $157,913 for the U.S. In five years, median home value is projected to change by 0.94 percent annually to $126,977. From 2000 to the current year, median home value changed by 0.95 percent annually. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and Esri converted 1990 Census data into 2000 geography Esri 3/22/2012 Page 3 of 3

68 Executive Summary with Charts Prepared by Edward Durnil Monrovia Latitude: N Baltimore Rd, Monrovia, IN, Longitude: Ring: 5 miles radius Population and Households The size of the market area, measured by population and households, has changed from 2000 through the forecast year as follows: Year Population Households ,553 3, ,053 3, ,167 3,698 The difference between change in population and change in households is a result of two factors-the presence of group quarters (non-household) population in the market area and the average number of persons per household. The group quarters population in the market area was 6 in 2000, or 0.1 percent of the total population. Average household size is 2.77 in 2010, compared to 2.83 in the year Population Households Population by Age The median age for the United States was 35.3 in 2000 and 36.7 in the current year. In the market area, the median age of the population was 37.2, compared to 40.8 years currently. By age group, the changes in the percent distribution of the market area population show the following: Percent Population by Education In 2010, the educational attainment of the population aged 25 years or older in the market area can be summarized: % High School Grad % Bachelor's Degree Market Area U.S. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and Esri converted 1990 Census data into 2000 geography Esri 3/22/2012 Page 1 of 3

69 Executive Summary with Charts Prepared by Edward Durnil Monrovia Latitude: N Baltimore Rd, Monrovia, IN, Longitude: Ring: 5 miles radius Population by Race/Ethnicity Currently, the racial composition of the population in the market area breaks down as follows: Percent White 72.7 Black Am. Ind Asian Pacific Market Area U.S. Other Two Persons of Hispanic origin represent 0.8 percent of the population in the identified market area compared to 15.0 percent of the U.S. population. Persons of Hispanic Origin may be of any race. In sum, the Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, was 5.3 in the identified market area, compared to 59.3 in the U.S. population. Population by Employment In 2000, 67.4 percent of the population aged 16 years or older in the market area participated in the labor force; 0.0 percent were in the Armed Forces. Tracking the change in the labor force by unemployment status: Year %Employed %Unemployed Market Area U.S. And by occupational status: White Collar Service Blue Collar Market Area U.S. In 2000, 83.6 percent of the market area population drove alone to work, and 3.0 percent worked at home. The average travel time to work in 2000 was 30.0 minutes in the market area, compared to the U.S. average of 25.5 minutes. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and Esri converted 1990 Census data into 2000 geography Esri 3/22/2012 Page 2 of 3

70 Executive Summary with Charts Prepared by Edward Durnil Monrovia Latitude: N Baltimore Rd, Monrovia, IN, Longitude: Ring: 5 miles radius Income The change in three summary measures of income-median and average household income and per capita income-are shown below from 1990 through 2015: Med HH $ Avg HH $ Per Cap $ Housing Currently, 77.1 percent of the 4,082 housing units in the market area are owner occupied; 11.9 percent, renter occupied; and 11.0 percent are vacant. In 2000, there were 3,615 housing units percent owner occupied, 11.3 percent renter occupied and 6.4 percent vacant. The annual rate of change in housing units since 2000 is 1.19 percent. Median home value in the market area is $126,649, compared to a median home value of $157,913 for the U.S. In five years, median home value is projected to change by 1.12 percent annually to $133,911. From 2000 to the current year, median home value changed by 0.86 percent annually. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and Esri converted 1990 Census data into 2000 geography Esri 3/22/2012 Page 3 of 3

71 Traffic Count Map Monrovia Prepared by Edward Durnil 8462 N Baltimore Rd, Monrovia, IN, Latitude: Ring: 1, 3, 5 Miles Longitude: Source: 2011 MPSI (Market Planning Solutions Inc.) Systems Inc. d.b.a. DataMetrix 2012 Esri March 22, 2012

72 Traffic Count Profile Prepared by Edward Durnil Monrovia Latitude: N Baltimore Rd, Monrovia, IN, Longitude: Ring: 5 miles radius Distance: Street: Closest Cross-street: Year of Count: Count: 1.42 State Road 39 Bunker Hill Rd W (0.35 miles S) , State Road 39 W Lentz Tree Farm Rd (0.69 miles NW) , State Road 39 S Chestnut St (0.02 miles N) , State Road 42 S Water St (0.05 miles E) , State Road 42 St Rd 42 (0.03 miles W) , State Road 39 Latta Dr (0.32 miles S) , State Road 42 Hazelwood Rd (0.18 miles W) , State Road 142 Wesley Ridge (0.17 miles SE) , E Hendricks County Road N Everett Rd (0.66 miles W) Keller Hill Rd N West Union Rd (0.2 miles E) , E Hendricks County Road N Everett Rd (0.15 miles W) State Road 39 E County Road 1000 S (0.23 miles N) , State Road 39 Dogwood Hill (0.19 miles SE) , I-70 S County Road 100 E (0.36 miles SW) , State Road 42 Vet Ln (0.09 miles W) , W Hendricks County Road Tudor Rd (0.46 miles W) S County Road 100 E County Road 100 E (0.28 miles S) E County Road 1000 S State Road 39 (0.61 miles E) , County Road 0 W County Road 1000 S (0.46 miles N) E County Road 1000 S County Road 1300 N (0.25 miles E) , Tudor Rd Hodge Rd (0.02 miles E) State Road 42 N Herbemont Rd (0.04 miles W) Hodge Rd Tudor Rd (0.74 miles SW) E County Road 1000 S S County Road 100 E (0.46 miles E) Rob Hill Rd State Road 67 (0.12 miles E) , W County Road 1000 S County Road 0 (0.12 miles E) State Road 67 Rob Hill Rd (0.19 miles NE) , S County Road 100 W W County Road 1000 S (0.46 miles N) County Road 0 W County Road 975 S (0.12 miles N) S County Road 100 E E County Road 1000 S (0.47 miles S) Data Note:The Traffic Profile displays up to 30 of the closest available traffic counts within the largest radius around your site. The years of the counts in the database range from 2011 to Just over 68% of the counts were taken between 2001 and 2011 and 86% of the counts were taken in 1997 or later. Traffic counts are identified by the street on which they were recorded, along with the distance and direction to the closest cross-street. Distances displayed as 0.00 miles (due to rounding), are closest to the site. A traffic count is defined as the two-way Average Daily Traffic (ADT) that passes that location. Source: 2011 MPSI Systems Inc. d.b.a. DataMetrix 2011 Esri 3/22/2012 Page 1 of 1

73 Traffic Count Map - Close Up Monrovia Prepared by Edward Durnil 8462 N Baltimore Rd, Monrovia, IN, Latitude: Ring: 1, 3, 5 Miles Longitude: Source: 2011 MPSI (Market Planning Solutions Inc.) Systems Inc. d.b.a. DataMetrix 2012 Esri March 22, 2012