Auction Information
LEGAL DESCRIPTION: N/2 of 11-4-39
Tract 1: 146.0+ Irrigated & dryland cropland acres
Tract 2: 100.0+ CRP acres
Tract 3: 74.0+ Feedlot & improvements
LOCATION: From the intersection of Hwy 36 and Hwy 27 in Wheeler, Kansas, go 2 miles East on Hwy 36 to Road 21, and 2 miles South to the NW corner of the property. SIGNS WILL BE POSTED!!
MANNER OF SALE: This real estate will be offered as a MULTI-PARCEL auction in 3 individual tracts and in combinations of tracts. It will be sold in the manner that produces the highest aggregate bid. There will be OPEN BIDDING on all tracts and combinations of tracts during the auction as determined by the auction company. Bids on tracts, tract combinations, 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...
TERMS: 10% down day of sale, with the balance to be paid on or before October 1, 2012, or upon such terms as may be acceptable to the Seller. 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. Announcements made day of sale take precedence over printed material and previously made oral statements.
MINERAL RIGHTS All of the Sellers interest will transfer to the Buyer(s) at closing, subject to an oil and gas lease of record.
CROPS: Tract 1 is all planted to corn. Buyer will receive the landlords 25% share of the crop.
FSA INFORMATION: Buyer of Tract 1 will receive the landlords 25% share of all FSA feed grain payments associated with the 2012 crop year. There are approximately 25 acres subject to a WRP/EWP contract, which is a paid-up contract.
CRP INFORMATION: Seller will retain 100% of the 2012 CRP payment on Tract 2 which will accrue from October 1, 2011, through September 30, 2012.
CLOSING: Closing will be on or before October 1, 2012.
POSSESSION: Date of closing, except after harvest on the acres planted to corn.
REAL ESTATE TAXES: Seller will pay taxes for 2011 and prior years. Taxes for 2012 will be prorated to the date of closing.
EVIDENCE OF TITLE: Seller 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 Seller. Title evidence will be provided on sale day.
ACCEPTANCE OF BIDS: Each successful bidder will be required to enter into a real estate purchase contract immediately following the auction. Copies of the contracts will be available from the auction company prior to the sale.
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 the same as deeded acres. Acreages are not covered by title insurance.
INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections & due diligence concerning pertinent facts about the property. Neither Seller 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.
SURVEY: Seller will provide a survey in the event the tracts sell separately.
AGENCY: Farm & Ranch Realty, Inc., its agents and representatives, are the Exclusive Agents of the Seller.
IRRIGATION INFORMATION
WATER RIGHTS: Tract 1 is covered under Water Right File #22454 and is permitted for 294AF at 1,000 GPM. A place of use and an additional water right designation is available on the CRP acres on Tract 2.
IRRIGATION EQUIPMENT: 96 Reinke 7-tower sprinkler, nozzled at 550 GPM, and a 454 Chevy motor on natural gas are included on Tract 1.
There is a permitted 1,200 head feedlot with 800 of good Scholsser concrete bunks, hydraulic working chute, and Blue River continuous flow waterers.
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