FM , Pecan Gap, TX 75469(Delta County)

The farm has about 5.5 acres of freshwater shrub wetlands in the northwest corner, a .2 acre tank and the East Fork of the Jernigan Creek traverses from north to south on the eastern quarter of the farm. With approximately 120 cultivated acres and the rest being water and cover opportunities, this farm makes a great income producer and recreational combo opportunity.

The property has been leased on a crop share agreement with the same tenant since the mid 1970s and the tenant has expressed interest in keeping the arrangement should the new owner wish to do so.

The current crop of soybeans will be harvested around August 2020 and will belong to the tenant and seller, no matter date of closing.

Legal Description 0011 J ASHLEY, TRACT 2, ACRES 182.0

Possession At time of Closing/Funding

Closing Monday August 31,2020

Earnest Money 5% of Total Sales Price

Farm Lease Yes

Terms and Conditions

BIDDING PROCEDURE: Property will be offered in a whole unit. PURCHASE CONTRACT: Immediately following the close of bidding, the high bidder will sign a purchase contract in the form provided in the property information packages. All information contained on this website and other marketing materials is subject to the terms and conditions contained in the written purchase contract. Seller shall not be bound by any statement promise or inducement that is not contained or incorporated in the written purchase contract.

SELLERS ACCEPTANCE: The final bids are subject to the Sellers acceptance or rejection.

BUYERS PREMIUM: A Buyers Premium in the amount of ten percent (10%) of the bid amount shall be charged to Buyer and added to the bid amount to arrive at the total contract purchase price.

PAYMENT TERMS: 5% of the purchase price will be due immediately after the bidding concludes, with the balance due in cash at closing. The down payment may be made in the form of a cashiers check, personal check or corporate check. YOUR BIDDING IS NOT CONTINGENT UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

CLOSING: The targeted closing date is on or before August 31, 2020. Closing shall be held on or before the targeted closing deadline or as soon as possible thereafter upon completion of the survey, if applicable, the final title commitment and the Sellers closing documents. The closing agents fee for an administered closing will be shared equally (50% each) between Buyer and Seller. Buyer will pay all charges and fees related to any loan obtained by Buyer.

POSSESSION: Possession shall be delivered upon successful closing & funding.

REAL ESTATE TAXES AND ASSESSMENTS: The 2020Property Taxes will be prorated to the date of closing. The buyer will be responsible for any rollback in the property taxes. The buyer(s) will be responsible for all additional taxes imposed after the date of execution of the Special Warranty Deed by seller as a result of any change in use of any part of the subject property, the intent being that all such additional taxes shall be the responsibility of the buyer and the buyers heirs, personal representatives and assigns.

DELIVERY OF TITLE: At each closing, Seller shall furnish at Sellers expense: (i) a warranty deed conveying marketable title to Buyer, subject to all permitted exceptions as described in the purchase contract; and (ii) an owners title insurance policy in the amount of the purchase price insuring marketable title, subject to all standard requirements, conditions and exceptions and subject to the permitted exceptions.

MINERALS: Any sale will include 100% of Sellers interest (if any) in the minerals. However, no promise, warranty or representation will be made as to the existence of any minerals or the nature or extent of Sellers interest therein

TRACT MAPS; ACRES: All advertised tract maps, acres, dimensions and boundaries are approximations based on county parcel data, current legal descriptions and/or aerial mapping. The marketing materials are not provided as survey products.

PROPERTY INSPECTION: Inspection dates have been scheduled and will be staffed with auction personnel. Owner, Broker and Auction Company disclaim any and all responsibility for the safety of prospective bidders and other persons during any physical inspection of the property. No person shall be deemed an invitee to the property by virtue of its being offered for sale. DISCLAIMER AND ABSENCE OF WARRANTIES: THIS PROPERTY IS OFFERED AS IS, WHERE IS. NO WARRANTY OR REPRESENTATION, STATED OR IMPLIED, IS MADE BY SELLER, BROKER OR AUCTION COMPANY CONCERNING THE PROPERTY. Prospective bidders are responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. The information contained in this brochure and other marketing materials is subject to verification by all parties relying on it. Seller, Broker and Auction Company assume no liability for any inaccuracies, errors or omissions in such materials. All sketches, tract maps, measurements and dimensions are approximate.

AGENCY: Alliance Auctioneers and their respective agents, representatives and contractors are exclusively the agents of the Seller. Auctioneer Brent R. Graves # 13507 is also exclusive agent to seller.

CONDUCT OF AUCTION: The conduct of the auction and increments of bidding will be at the direction and discretion of the auctioneer. Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the persons identity, credentials, fitness, etc. All decisions of the auctioneer at the auction are final.

CHANGES: Please arrive prior to scheduled auction time to inspect any changes or additions to the property information.

OFFICIAL ANNOUNCEMENTS MADE FROM THE AUCTION PODIUM ON AUCTION DAY WILL TAKE PRECEDENCE OVER THE MARKETING MATERIALS AND ANY OTHER PRIOR STATEMENTS. IN THE EVENT OF DISPUTE BUYERS AND SELLERS AGREE TO ABIDE BY AUCTIONEERS DECISION DURING AUCTION AND THROUGH CLOSING.

License #13507 & License #13513