Auctioneers Note: George & Mary Ann Schmidt have decided to retire and they would like to thank all their loyal customers for the many years of business!! This is a rare opportunity to buy a complete operation. The building does lend itself for many other opportunities. A multi-use building that is currently used as a restaurant & market, but has many possibilities!! If you are looking for a business or if you are looking to expand your business, dont miss this auction, this is a well maintained property by the Schmidts!

Description of the Building & Land

Morton 48x105 building with 5,040 sq.ft. of space was built in 1998 with a 12 L shaped covered canopy/porch.

Open Market area is approx.. 48x 50 with (1) 10x18 overhead door with opener &

(4) 8x18 overhead doors

Dining room is approx. 30x30 with carpet

Walk in cooler is 11x21 (compressor is approx.. 3 yrs.old)

Office is 11x22

(2) Restrooms

Large walkup storage area above kitchen, dining, cooler & office.

Building has 3 air conditioners units (1) kitchen (2) dining area and (1) GFA furnace.

Concrete parking & shared asphalt driveway.

Situated on 1.87 acres M/L.

Zoned C1 and is in the city limits. There is a triangle piece of this property that is zoned A1 and is not in the city limits.

Building serviced by Alliant Energy(gas) and Muscatine electric. The property is on a shared well and the septic system will be inspected prior to closing.

Description of the Equipment Included

On the Market Side:

Refrigerated produce case

(5) Glass display cases

Counter with register

(3) Upright freezers

(2) Deep freezers

(5) Bin displays

(4) Wood display bins

(6) Grocery carts

(6) Produce carts

(7) Wood dolly carts

(2) Poly picnic tables

(2) Metal shelving displays

Desk

4 drawer lateral file cabinet

Safe

Dining Room:

Seating capacity for 65

Federal refrigerated curved glass display

Salad bar

SS prep table

Cash register

Plates, silverware, etc.

Kitchen:

Dreaco SS Hood with Ansil system

Southbend 6 burner stove

Rankin-Delux charbroiler

Regency grill

(2)Frymasters

True double door freezer

Sandwich prep table w/ cooler

Refrigerator

SS 3 sink w/ grease trap

SS table w/ microwave

SS table

Small prep table

3 dish food warmer

Meat slicer

Crock pots, toasters, etc.

Kitchen utensils, etc.

Walkin cooler:

(3) Bread racks

(9) Plastic shelving units

Office:

(4) Metal shelving

Desk & chairs

File cabinets

Tables

Sweeper

Time clock

3 camera surveillance system

We cant list every item, many other items normally used to run a food market & restaurant.

Items not included in auction: Refrigerator in dining area, Blue Bunny freezer in kitchen, Ice tea maker, Coffee maker, Coke fountain machine, Ice cooler outside, Coke machine outside, Covered carport

TERMS OF SALE- 20% of the bid price to be paid on the day of auction. With the balance due on or before the closing with a projected closing date of January 17, 2014, upon delivery of merchantable abstract and deed. Personal check or cash is acceptable for down payment; balance shall be paid by cash, certified check or wire transfer. Full possession will be given at the time of closing. Real estate taxes will be prorated to date of possession on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years.

Immediately following the auction of the real estate, the successful buyer shall enter into a written contract with the seller.

The following taxes are approximate and will be used to prorate at closing.

Net Taxes: $9,466

SPECIAL PROVISIONS:

~ The seller shall not be obligated to furnish a survey.

~ The property is subject to a joint ingress-egress easement.

~ The property is on a shared well and is subject to a well easement and usage agreement with the adjoining property.

~ The seller will have the septic system inspected prior to the auction and any repairs or maintenance required to meet county and state code will be the obligation of the seller.

~ If in the future a site clean up is required it shall be at the expense of the buyer.

~ This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.

~ The buyer acknowledges that he/she has carefully and thoroughly inspected the real estate and is familiar with the premises. The buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the same.

~ Any announcements made on the day of the auction will take precedence over prior advertising and printed matter.

Owners: George E. & Mary Ann Schmidt

Charles R. Coulter of Stanley, Lande & Hunter - Attorney for Seller