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LAND & MINERAL ACRES OKLAHOMA AUCTION, 588+/- Land & Producing Mineral Acres offered in 24 Tracts in Okmulgee County

Okmulgee County, Oklahoma

Owner: CBS Ranch Thu, Jun 11, 2015

SOLD FOR $1,486,080

• LAND & MINERAL ACRES OKLAHOMA AUCTION • 588+/- Land & Producing Mineral Acres offered in 24 Tracts in Okmulgee County • Parcels ranging from 5 to 80 acres • 548+/- Quality Grasslands • 40+/- Producing Mineral Aces • Ranch Home • Barns & Working Pens • 11 Ponds


Information Booklet


OPEN HOUSE/INSPECTION DATES

June 4, 4-6 PM

PROPERTY LOCATION

Directions: From the intersection of Highway 75 and 251st Street, go west for 3 miles until you see the property begin on your left.

AUCTION LOCATION

The Tulsa RV Ranch, 2538 US-75, Beggs, OK 74421

PROPERTY DESCRIPTION

CBS Ranch includes 550+/- acres of quality grassland, 25% Mineral Interest (40 Net Mineral Acres), 100% Working Interest and 87.5% Net Revenue Interest of Irby #1 & 2 wells, ranch home, barns, working pens and other improvements located along Alternate Highway 75 and 251st Street in Okmulgee County. The ranch has been well managed for soil health and forage production, with established stands of Bermuda and Fungal-Endophyte Free Max-Q Fescue. The acreage is fenced and crossed fenced, has 11 ponds providing abundant water, and is fronted by paved roads on two sides. Additionally, many tracts boast panoramic views of the surrounding landscape and wooded hills to the west, creating appealing potential home sites. For more thorough information regarding soil maps, mineral production information, title work, and additional photos please reference our Bidder Information Booklet. The property will be offered in 24 individual tracts and combinations of tracts that range from 5 to 80 acres.

TRACT DESCRIPTIONS

Tract 1: 5± ac corner-lot located at the intersection of 251st and Alt 75.

Tract 2: 5± ac tract with frontage on Alt 75.

Tract 3: 10± ac tract with frontage on Alt 75.

Tract 4: 22± ac tract with a small pond and frontage on 251st street.

Tract 5: 5± ac corner-lot located at the intersection of 251st and Alt 75.

Tract 6: 5± ac tract with frontage on Alt 75.

Tract 7: 10± ac tract with frontage on Alt 75.

Tract 8: 20± ac tract with established stand of Max-Q Fescue.

Tract 9: 68± ac tract with rolling topography, a small pond and an established stand of Max-Q Fescue.

Tract 10: 20± ac tract that gently slopes of east to west and overlooks the Horseshoe Pond, check out our interactive map to see pictures of blue wing teal using this area!

Tract 11: 20± ac tract that slopes from east to west and includes the Big Pond, which has been stocked with fish for many years with limited fishing pressure.

Tract 12: 20± ac tract with high elevation of panoramic views of the surrounding landscape.

Tract 13: 20± ac tract of the highest elevation points on the property.

Tract 14: 30± ac with an excellent mixture of elevated land, which gently slopes into the west.

Tract 15: 10± ac of quality improvements, including: 3bd, 3ba ranch house with wraparound porch, quality interior finish, large kitchen, and abundant master suite. Also, a nice set of pipe working pens, and metal barn are located on Tract 15. Purchase as an individual tract or with surrounding parcels to create the property that best fits your needs!

Tract 16: 68± ac Swing Tract that includes some of the most beautiful parts of the ranch. The parcel is dissected by a live water creek, has a wonderful rolling terrain covered in Pecan Trees and includes 3 ponds. Purchase the parcel with any adjoining tract to create your ideal property.

Tract 17: 24.5± ac that are a mixture of manicured hay meadow, mature hardwood trees and a large watershed pond.

Tract 18: 27.5± ac that are a mixture of manicured hay meadow, mature hardwood trees and a watershed pond.

Tract 19: 20± ac with a mixture of hay meadow, creek bottom with large trees and open pastureland.

Tract 20: 40± ac with a mixture of pastureland and creek bottom, watch our property highlights video with an up-close look at this tract from an aerial view!

Tract 21: 80± ac Swing Tract with a mixture of mature hardwoods and an established hay meadow, this is an outstanding tract to combine with an adjoining parcel.

Tract 22: 0.0± ac 25% Mineral Interest (40 net mineral acres) located in the SE/4 Section 7, Township 15 North, Range 12 East, Okmulgee County, Oklahoma. The W/2, SE/4 is HBP by Irby #1 & Irby #2; the E/2, SE/4 appears open of record.

Tract 23: 20± ac with a mixture of hay meadow, creek bottom with large trees and open pastureland.

Tract 24: 0.0± ac 100% working interest and operations of the Irby #1 (API # 35-111-20550) and Irby #2 (API # 35-111-20558); with an 87.5% net revenue interest. Irby lease covers the W/2, SE/4, Section 7, Township 15 North, Range 12 East, Okmulgee County. Average production over last 3 years is 135 Barrels/Year.

Approximately 125 head of Beefmaster cattle & farm equipment selling Saturday, June 13. Call Josh Enlow at 918-693-8620 or visit www.enlow66.com for details.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: Tracts 1 through 24 will be offered in individual tracts, in any combination of these tracts, or as a total unit per auction date and time. There will be open bidding on all tracts and combinations during the auctions as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete. The property will be sold in the manner resulting in the highest total sale price.

BUYERS PREMIUM: The contract purchase price will include a Buyers Premium equal to 8% of the bid amount.

DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, with the balance due in cash at closing. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. The auction bids are subject to the acceptance or rejection by the Seller.

DEED: Seller shall provide Special Warranty Deed.

EVIDENCE OF TITLE: Seller agrees to make available to bidder a preliminary title insurance commitment to review prior to auction. The cost of title insurance, if the buyer(s) elects to purchase the title insurance policy, will be the responsibility of the buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar related matters. All tracts sold AS-IS.

CLOSING: The closing shall take place 30 days after the auction or as soon thereafter as applicable closing documents are completed by Seller.

POSSESSION: Possession of the property shall be given following a 60 day move-out period, which shall commence on the date of closing. REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.

MINERALS: Mineral rights for auction tracts 12 through 16 will be offered separately as auction tract 22. Seller will not make any reservation of minerals on auction tracts 1 through 11 and 17 through 21 & 23. SURVEY: The Seller shall order new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. Successful bidder shall each pay the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, if a new survey is determined to be necessary by the Seller.

ACREAGE AND TRACTS: All acreages are approximate and have been estimated based on current legal descriptions and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.

AGENCY: Schrader Real Estate and Auction Company, Inc. and their representatives 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 Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. 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 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. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

NEW DATE, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes or additions to the property information.

SELLER: CBS Ranch