Auction Information
Tuesday, July 18, 2017 10:00 AM
Medford Civic Center, Medford, OK
123 S. Main, Medford, OK 73759
Multi Parcel Auction Grant Co., OK
Seller: Duane A. Zeman Estate
TRACT 1: SE of Section 14, Township 27 North, Range 6 West of Grant Co., OK (Surface Rights Only).
DESCRIPTION: 121.4 acres cultivation, 29.3 acres grass, and 5 acre homestead. Class 2 soils including Bethany silt loam and Kirkland silt loam. Cash rent of $5,240 will go to Buyer for 2018 crop year. Buyer to receive possession after 2018 wheat harvest.
LOCATION: 4 miles west at the intersection of Hwy 81 & Hwy 11 in Medford, OK.
TAXES: $723.00 Taxes will be prorated to the day of closing.
TRACT 2: SE of Section 14, Township 27 North, Range 6 West of Grant Co., OK (Mineral Rights Only). Average mineral income for the last 12 months is $2,038.19.
TRACT 3: N NW of Section 14, Township 27 North, Range 6 West of Grant Co...
TRACT 3: N NW of Section 14, Township 27 North, Range 6 West of Grant Co., OK (Surface Rights Only).
DESCRIPTION: 78.19 acres of cultivation. Primarily Class 2 soils including Bethany silt loam and Kirkland silt loam. Cash rent of $3,127 will go to Buyer for 2018 crop year. Buyer to receive possession after 2018 wheat harvest.
LOCATION: 5 miles west and mile north of the intersection of Hwy 81 & Hwy 11 in Medford, OK.
TAXES: $236.00 Taxes will be prorated to the day of closing
TRACT 4: N NW of Section 14, Township 27 North, Range 6 West of Grant Co., OK (Mineral Rights Only). Average mineral income for the last 12 months is $1,003.89.
TRACT 5: S NW of Section 14, Township 27 North, Range 6 West of Grant Co., OK (Surface Rights Only).
DESCRIPTION: 52.84 acres of cultivation with 25.89 acres of grass. Primarily Class 2 soils including Kirland silt loam. Cash rent of $2,113 will go to Buyer for 2018 crop year. Buyer to receive possession after 2018 wheat harvest. Weather center rental brings in $500 per year.
LOCATION: 5 miles west and mile north at the intersection of Hwy 81 & Hwy 11 in Medford, OK.
TAXES: $181.00 Taxes will be prorated to the day of closing.
TRACT 6: S NW of Section 14, Township 27 North, Range 6 West of Grant Co., OK (Mineral Rights Only). Average mineral income for the last 12 months is $1,003.89.
MANNER OF SALE: This property will be offered as a MULTI-PARCEL AUCTION in 6 individual tracts and in combinations of tracts. It will be sold in the manner that produces the highest total bid. There will be open bidding on individual tracts, tract combinations, and the total property may compete. Auction procedure and increments of bids are at the discretion of the auction company.
TERMS: The Seller requires 10% down day of sale with the balance to be due on or before August 18, 2017. The Buyer and Seller to equally split closing costs. Seller shall provide an updated abstract. Bidding is not contingent upon financing. Financing, if necessary, needs to be arranged and approved prior to the auction. Abstracts will be provided to the Buyer. Property will close with Humphrey & Guarantee Abstract. The property to be sold as is. All inspections should be made prior to sale day. Statements made day of auction take precedence over all printed advertising and previously made oral statements. Gene Francis & Associates is an agent of the Seller.
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