Auction Information
1,280 Acres in Norton, KS
LEGAL DESCRIPTIONS:
TRACT 1: NE/4 and approximately 95.0 ac in the S/2 of 4-2-22
TRACT 2: SW/4 and approximately 65.0 ac in the SE/4 of 4-2-22
TRACT 3: N/2SW/4 and S/2NW/4 of 29-2-22
TRACT 4: NW/4 of 36-3-24
TRACT 5: S/2 of 36-3-24
TRACT 6: NW/ of 18-4-23
LAND LOCATION: See map for directions. SIGNS WILL BE POSTED!
MANNER OF SALE: This real estate 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 aggregate bid. Bids on individual tracts, tract combinations, and the total property may compete. Auction procedure and increments of bidding are at the discretion of the auction company.
TERMS: Buyer(s) will pay 10% down day of sale, with the balance to be paid on or before November 12, 2011, or upon such terms as may be acceptable to the Seller. Personal and corporate chec...
TERMS: Buyer(s) will pay 10% down day of sale, with the balance to be paid on or before November 12, 2011, 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: Seller will retain 100% of the mineral rights for a term of twenty years or theresolong after as production exists.
CROPS: Buyer will receive the landlords 1/3rd share of the 2012 growing wheat crop on Tract 1.
FSA INFORMATION: Buyer(s) will receive 100% of all FSA payments associated with the 2012 crop year except on Tract 1. On Tract 1, Buyer will receive the landlords 1/3rd share of all FSA wheat payments and 100% of all FSA feed grain payments associated with the 2012 crop year.
CRP PAYMENTS: Buyer of Tract 6 will receive 100% of the 2012 CRP payment which will accrue from October 1, 2011, through September 30, 2012.
CLOSING: On or before November 12, 2011.
POSSESSION: Date of closing, subject to the tenants rights. See auctioneers note below for details.
REAL ESTATE TAXES: Seller will pay taxes for 2010 and prior years. Taxes for 2011 will be the prorated to the date of closing.
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.
INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and 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. Statements, while not guaranteed, are from reliable sources.
ACCEPTANCE OF BIDS: Each successful bidder will be required to enter into a Farm & Ranch real estate purchase contract immediately following the auction. Copies of the contract will be available from the auction company prior to the sale.
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
EASEMENTS: This sale is subject to all rights-of-way and easements, whether recorded or not, and to oil and gas leases of record.
AGENCY: Farm & Ranch Realty, Inc., its agents and representatives, are the Exclusive Agents of the Seller.
INTERNET BIDDING AVAILABLE
Register by September 29th to bid online. Call for details.
AUCTIONEERS NOTE: The family of the late Nellie Lawson will offer these farms at ABSOLUTE PUBLIC AUCTION on Tuesday, October 11, 2011, at the Parish Hall in Norton, Kansas.
TRACT 1: This tract is all in cropland which will be planted to wheat this fall by the current tenant with the landlords 1/3rd share of the 2012 wheat crop to go to the Buyer.
TRACT 2: The soybean crop will be harvested and possession will be immediately after harvest, or November 30, 2011, whichever occurs first. The pasture possession will be March 1, 2012, or sooner if released by the tenant.
TRACT 3: The cropland is planted to soybeans and cane hay. Possession of the cropland will be after the fall harvest or November 30th, with the pasture no later than March 1, 2012.
TRACTS 4 & 5: The cropland will be immediate at closing with the chemical expense of burn down to be paid by the Seller. Possession of the pasture is the same as Tracts 2 and 3 above.
TRACT 6: This tract is planted to corn with possession to be immediately after the corn is harvested this fall, no later than November 30th.
This auction will offer Buyers an opportunity to buy one tract or buy them all. Signs are posted for your convenience. Call Don for a tour or more information!
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