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IRRIGATED LAND AUCTION - 12,160+/- ACRES OFFERED IN 12 TRACTS IN HARTLEY & MOORE COUNTY, TEXAS

Hartley & Moore Co., Texas

Owner: Wilder Farms, Inc.; Wilder Corporation Wed, Dec 14, 2016

AUCTION IS OVER

• 12,160+/- Acres offered in 12 Tracts • 11,646+/- Cropland Acres (FSA) • 8,209+/- Irrigated Acres • 31 Irrigated Circles • Great opportunity to buy at Auction! • 15+/- Miles Northwest of Dumas, TX • 20+/- Miles Southeast of Dalhart, TX • Buy any tract, combination of tracts or buy the entire property! • Online Bidding Available


TEXAS INFO BOOK


OPEN HOUSE/INSPECTION DATES

Monday, November 28 from 2 - 4pm
Thursday, December 8 from 10am - Noon
Meet a Schrader Representative at the
Dumas Hampton Inn Hotel for more information.

Dumas Hampton Inn - 2010 South Dumas Avenue, Dumas, TX 79029

PROPERTY LOCATION

From the intersection of Hwy 87/287 and Route 152, downtown Dumas, Travel west on Hwy 87 13.4 miles to Chain C Road. Turn right (north) on Chain C Road and travel 3 miles to the property.


AUCTION LOCATION

Rita Blanca Coliseum, 1219 W FM 281 Dalhart, TX 79022
From the southeast side of Dalhart Hwy 385 & FM 281, travel west on FM 281 approximately 1.2 miles to the auction location.

PROPERTY DESCRIPTION

12,160+/- acres with approximately 11,646+/- acres cropland (FSA) located in Hartley & Moore Counties, Texas. Includes a high percentage of tillable acres with excellent soils and high percentage of irrigated acres. There are (31) irrigated circles, and headquarters location including shop, apartment and (6) older steel grain bins.

TRACT DESCRIPTIONS

Tract 1: 640± ac Section - 423; FSA Cropland Acres - 632.07; Approx. Irrigated Acres* - 371+/-; Improvements/Irrigation/Description - 1999 18-Tower Valley

Tract 2: 640± ac Section - 418; FSA Cropland Acres - 610.29; Approx. Irrigated Acres* - 500+/-; Improvements/Irrigation/Description - 1995 18-Tower Valley

Tract 3: 960± ac Section - 380, W/2 381; FSA Cropland Acres - 937.67; Approx. Irrigated Acres* - 729/-; Improvements/Irrigation/Description - (2) 1983 X-Tower Valley, 1983 X-Tower Zimmatic, (2) 1982 X-Tower Zimmatic, 2002 X-Tower Reinke

Tract 4: 960± ac Section - 382, E/2 381; FSA Cropland Acres - 948.77; Approx. Irrigated Acres* - 750/-; Improvements/Irrigation/Description - 1993 17- Tower Zimmatic, 1993 7-Tower Zimmatic, 1985 8-Tower Zimmatic

Tract 5: 1,920± ac Section - 376, 375, 339; FSA Cropland Acres - 1857.96; Approx. Irrigated Acres* - 984/-; Improvements/Irrigation/Description - 2002 18-Tower Reinke, 1995 18-Tower T-L, this tract includes 548.7 acres

Tract 6: 1,280± ac Section - 374, 341; FSA Cropland Acres - 1259.37; Approx. Irrigated Acres* - 997/-; Improvements/Irrigation/Description - 1999 18-Tower Reinke, 1991 19-Tower Reinke

Tract 7: 640± ac Section - 373; FSA Cropland Acres - 633.39; Approx. Irrigated Acres* - 503/-; Improvements/Irrigation/Description - 1997 18-Tower Reinke

Tract 8: 1,920± ac Section - 340, 333, 334; FSA Cropland Acres - 1878.23; Approx. Irrigated Acres* - 1,502+/-; Improvements/Irrigation/Description - 2012 8-Tower Reinke, (2) 1997 18-Tower Reinke, (2) 1997 8-Tower Reinke, 1985 8-Tower T-L

Tract 9: 960± ac Section - 335, S/2 338; FSA Cropland Acres - 683.52; Approx. Irrigated Acres* - 131/-**; Improvements/Irrigation/Description - Older headquarters location including shop, apartment and (6) old steel grain bins, 1980 10-Tower Reinke

Tract 10: 960± ac Section - 377, N/2 338; FSA Cropland Acres - 941.1; Approx. Irrigated Acres* - 749/-; Improvements/Irrigation/Description - 1997 18- Tower Reinke, 1980 7-Tower Valmont, 1980 8-Tower Valmont

Tract 11: 640± ac Section - 337; FSA Cropland Acres - 628.03; Approx. Irrigated Acres* - 496/-; Improvements/Irrigation/Description - 1997 18-Tower Zimmatic

Tract 12: 640± ac Section - 378; FSA Cropland Acres - 637.13; Approx. Irrigated Acres* - 497/-; Improvements/Irrigation/Description - (3) 1985 X-Tower Valley, 2000 X-Tower Valley
TOTAL OF TAX ACRES: 12,160+/-
TOTAL FSA CROPLAND ACRES: 11,647.53
TOTAL APPROX. IRRIGATED ACRES: 8,209+/-

*Approx. Irrigated Acres are based on FSA field boundaries.
**The well in the NW corner of Tract 9 serves Tract 10. Unless Tracts 9 & 10 are sold together, a small parcel with the well on Tract 9 will be surveyed and will be added to the conveyance of Tract 10 and excepted from the conveyance of Tract 9.


INTERACTIVE MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

BIDDING PROCEDURE: All tracts will be offered individually, in any combination or as a whole unit. There will be open bidding on all tracts and combinations during the auction as determined by the auctioneer. Bidding on individual tracts, tract combinations and the entire property will compete.

PURCHASE CONTRACT: Immediately following the close of bidding, each high bidder will sign a purchase contract in the form provided in the bidder packets. All information contained in this sale brochure 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 three percent (3%) 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: 10% 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 CONDITIONAL 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 January 13, 2017. 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 (50:50) between Buyer and Seller. Buyer will pay all charges related to any loan obtained by Buyer.

POSSESSION: Possession shall be delivered at closing subject to the tenants rights under the existing leases through December 2017.

EXISTING LEASE: The property is leased for the 2017 growing season. Buyer(s) to receive the 2017 lease payments. Contact Auction Company for more information. REAL ESTATE TAXES: Buyer shall pay the real estate taxes for the calendar year 2017 and all subsequent years.

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 the 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.

SURVEY: A new survey will be procured only if necessary to record the conveyance or if otherwise deemed necessary or appropriate in Sellers sole discretion. If a new survey is procured, the survey costs will be shared equally (50:50) by Seller and Buyer and the purchase price will be adjusted to reflect any difference between advertised and surveyed acres. Any survey of adjacent tracts purchased in combination will be for the perimeter only.

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.

CRP CONTRACT: A portion of the auction property is in the USDA CRP Program through 9/30/2021. Contact the Auction Company for more information.

WIND AND SOLAR: Seller has no rights to all commercial wind and wind rights, all commercial solar and solar rights, all alternative commercial energy and energy rights, including the right of ingress and egress on Auction Tracts 1, 2, 4, 5, 6, 7, 8, 9, 10 and 11.

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: Schrader Real Estate and Auction Company, Inc. and Paul A. Lynn & Associates, LLC (and their respective agents and representatives) are exclusively the agents of the Seller. Aggrieved persons may apply for payment from the Real Estate Recovery Trust Account administered by the Texas Real Estate Commission.

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.