Auction Information
LEGAL DESCRIPTIONS:
TRACT 1: S/2 & S/2N/2 of 36-4-18, and a tract in Section of 1-5-18
TRACT 2: All of Section 1-5-18, less 2 tracts
LAND LOCATION: From the intersection of Hwys 183 and 36 in Phillipsburg, Kansas, go 6 miles South to the NW corner of Tract 1 OR from the intersection of Hwys 183 and 24 in Stockton, Kansas, go 14 miles North to the SW corner of Tract 2. SIGNS WILL BE POSTED!!
MANNER OF SALE: This real estate will be offered as a MULTI-PARCEL auction in 2 individual tracts and in combination of tracts. It will be sold in the manner that produces the highest aggregate bid. Bids on individual tracts and the total property may compete. Auction procedure and increments of bidding are at the discretion of the auction company.
TERMS: 10% down day of sale, with the balance to be paid on or before October 7, 2011, or upon such terms as may be acceptable to the Sellers. Per...
TERMS: 10% down day of sale, with the balance to be paid on or before October 7, 2011, or upon such terms as may be acceptable to the Sellers. Personal and corporate checks are acceptable for the down payment with the final payment to be made in certified funds. All funds will be held by the auction company in their trust account or by an identified title/escrow company. Bidding is not contingent upon financing. Financing, if necessary, needs to be arranged and approved prior to the auction. All bids are subject to Sellers confirmation. Announcements made day of sale take precedence over printed material and previously made oral statements.
MINERAL RIGHTS: Sellers will retain one-half (1/2) of the mineral rights for a term of ten (10) years with said reservation to be non-participating in lease monies, delay rentals and bonuses, but fully participating in royalties.
CROPS: Crops on Tract 1 are subject to the tenants rights under a cash lease agreement, including the tenants right to plant and harvest the 2012 wheat crop, and subject to the tenants rights on the grassland acres.
FSA INFORMATION: Tenant will retain 100% of all FSA wheat payments associated with the 2012 crop year on Tract 1, and the Buyer of Tract 1 will receive 100% of all FSA feed grain payments associated with the 2012 crop year.
CRP PAYMENTS: Buyer of Tract 1 will receive 100% of the 2012 CRP payment which will accrue from October 1, 2011, through September 30, 2012.
CLOSING: Date of closing will be on or before October 7, 2011.
POSSESSION: Date of closing, subject to the tenants rights.
REAL ESTATE TAXES: Taxes for 2011 will be prorated to the date of closing. See chart below.
ACCEPTANCE OF BIDS: The successful bidders will be required to enter into real estate purchase contract immediately following the auction. Copies of the contracts will be available from the auction company prior to the sale.
EVIDENCE OF TITLE: Sellers will provide title insurance to the Buyer(s) in the amount of the purchase price with the premium to be paid one-half by the Buyer(s) and one-half by the Sellers. Title evidence will be provided on sale day.
ACREAGES: Acreage figures are considered to be approximate and are from reliable, sources, based on (USDA) FSA figures. All FSA information is subject to change. FSA acres may not be same as deeded acres.
INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Sellers or Farm & Ranch Realty, Inc., its agents or representatives, are making any warranties about the property, either expressed or implied.
EASEMENTS: This sale is subject to all rights-of-way and easements, whether recorded or not, and to oil and gas leases of record, if any.
AGENCY: Farm & Ranch Realty, Inc., its agents and representatives, are the Exclusive Agents of the Sellers.
AUCTIONEERS NOTE: This ranch has been very productive for the Kendall family for many years.
THE SOLOMON RIVER RUNS THROUGH TRACT 1 OFFERING UNBELIEVABLE HABITAT FOR ALL SPECIES OF WILDLIFE. This is a great pasture with good fences. Stock water is provided by the Rural Water District #1 pipeline that is supplied by wells on this property! There is Highway 183 access, as well as good county road access via Yankee Road. There is abundant grass on the property for next years grazing season!
Give Don a call for more details and a tour of the land TODAY!! SEE YOU AT THE AUCTION!
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