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181+/- Acres in Vermilion County, IL
Tue, Feb 7, 2012
Vermilion County, Illinois

Owner: Meacham

SOLD FOR $3,503,200

• Excellent Soils • Nearly All Tillable • Potential Building Sites

PROPERTY LOCATION
To Royal Property: From I-74, take exit 200 and travel north on Highway 49 for 7 miles. Turn left on 2500 North Road and travel 1.8 miles, property will be on left.

Champaign to Royal - 25 miles, Danville to Royal 24 miles, 3.5 miles northeast of Royal

AUCTION LOCATION
Royal Community Building
103 South Park Street
Royal, IL 61871

PROPERTY DESCRIPTION
SOILS:
Royal Property: Elliott/Ashkum Soils

TRACT DESCRIPTIONS
Tract 1: 181± ac 164 Acres tillable
Tract 2: 181± ac
Tract 3: 181± ac
Tract 4: 181± ac
Tract 5: 181± ac



INTERACTIVE MAP

AUCTION TERMS AND CONDITIONS PROCEDURE: The property will be offered in 5 individual tracts, any combination of tracts, or as a whole property. The property will be sold in the manner resulting in the highest total sale price.
DOWN PAYMENT: A non - refundable 10% down payment of the total contract purchase price will be due immediately after being declared the buyer. The down payment may be paid in the form of personal check, business check, or cashier's check. The balance of the contract purchase price is due in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.
POSSESSION: There is no lease in place for 2012. Possession shall be given at closing.
2012 CROP EXPENSE REIMBURSEMENT: Buyer shall reimburse tenant for 2012 crop expenses to date if current tenant is not allowed to farm the property for 2012. Please contact Auction Company for a breakdown of inputs/tillage and reimbursement amount for each tract.
EQIP Program: Tract 5 is currently enrolled in the EQIP program through Vermilion County NRCS. Buyer will assume all obligations of landowner under the EQIP program at closing. Please contact Auction Company for more information regarding program details.
ACCEPTANCE OF BID PRICES: All successful bidders will sign an Auction Farm Sales Contract at the auction site immediately following the close of bidding. All final bid prices are subject to approval or rejection by Seller.
CLOSING: Anticipated closing date is on March 7, 2012 or as soon as applicable closing documents are prepared.
TITLE: Seller shall furnish the buyer(s) at Sellers expense an Owners Policy of Title Insurance in the amount of the purchase price, and agrees to provide and execute a proper deed conveying merchantable title to the real estate to the buyer(s).
REAL ESTATE TAXES AND ASSESSMENTS: The 2011 calendar year taxes due and payable in 2012 shall be paid by Seller. The 2012 calendar year taxes and all subsequent taxes shall be paid by the Buyer.
EASEMENTS AND LEASES: Sale of said property is subject to any and all easements of record.
SURVEY: AT THE SELLER'S OPTION, the Seller shall provide a new survey where there is no existing legal description sufficient to convey title. Any need for a new survey shall be determined solely by the Seller unless such surveys are required by State or local law. The cost of the survey shall be paid by the Seller. The type of survey performed shall be at the Seller's option and sufficient for providing a standard form owners title insurance policy and the transfer of merchantable title. Should the survey indicate a discrepancy between the actual acres and the number of acres advertised, the purchase price shall be adjusted to reflect the actual number of acres as reflected on the survey.
MINERAL RIGHTS: Sale shall include 100% of the Mineral Rights owned by the Seller, if any. AGENCY: Murray Wise Associates LLC and Schrader Real Estate and Auction Company, Inc. are exclusive agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the agreement to purchase.
ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, etc. All decisions of the auctioneer are final.
NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.
NOTE: Videotaping, flash photography, and/or public announcements will be allowed on auction day ONLY with prior approval from Murray Wise Associates LLC.