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LAND AUCTION - 860+/- ACRES OFFERED IN 7 TRACTS IN PITTSBURG COUNTY, OKLAHOMA

Pittsburg County, Oklahoma

Owner: Randy & Dominique Lehr Thu, Aug 11, 2016

SOLD FOR $1,041,500

• 860+/- Acres in 7 Tracts • 70+/- to 160+/- Acres • Cultivated Land • Native Pastures • Live Creeks • 9 Ponds • Hardwood & Pine Timber • Abundant Wildlife • Adjacent to Choctaw Nations Ti Valley Ranch • Online Bidding Available


OPEN HOUSE/INSPECTION DATES

July 14th and August 4th, 9-11 AM

PROPERTY LOCATION

From the intersection of Hwy 69 and Hwy 63 in Kiowa, OK, travel east on Hwy 63, approx. 8 miles, to the community of Blanco then turn right on Ti Valley Rd. Continue on Ti Valley Road following the auction signs, approx. 8 miles, to the ranch.

AUCTION LOCATION

McAlester Elks Lodge, 3100 Elk Rd, McAlester, OK 74501

TRACT DESCRIPTIONS

Tract 1: 100± ac with a combination of native grass pasture, timber, small creek and one pond.

Tract 2: 120± ac that is cross-fenced into two pastures, the larger pasture with approximately 100 acres has been cultivated and was planted to Triticale last fall. A pole barn is located on the tract as well as two ponds.

Tract 3: 154± ac that is cross-fenced into two pastures and is a mixture of native grasses, creek bottoms and timber with two ponds and a rolling topography.

Tract 4: 110± ac with an excellent combination of native grass pasture, dense woods and the South Fork of Elm Creek running through the center of the tract.

Tract 5: 70± ac featuring a combination of native pasture and woods, this parcel also has the South Fork of Elm Creek running along the western side.

Tract 6: 146± ac with areas of good pasture, hardwoods and creek bottoms. This tract has two good ponds and a gently rolling topography.

Tract 7: 160± ac with a combination of pastureland, pine forests, hardwood creek bottom and one pond. This tract is directly adjacent to the Choctaw Nations Ti Valley Ranch along the south border.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: Tracts 1 through 7 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 2% 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 45 days after the auction or as soon thereafter as applicable closing documents are completed by Seller.

POSSESSION: Possession of the property shall be given at closing.

REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.

MINERALS: Seller is not reserving any mineral rights, however; no representation or warranty is made as to the extent Sellers owns any minerals.

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.