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LAND AUCTION - 354+/- ACRES OFFERED IN 8 TRACTS IN CHEROKEE CO., OK

Cherokee County, Oklahoma

Owner: Fite Trust Tue, Sep 26, 6:00 PM

• 354+/- Acres offered in 8 Tracts ranging from 14+/- to 140+/- acres • Rare Opportunity for 2+/- miles of Illinois River Frontage • Electric Service to Center of Property • Tracts 1-7 All Have Land Out of Flood Zone • Excellent Fishing & Water Sports • Online Bidding Available


OPEN HOUSE/INSPECTION DATES

Tuesday, Aug 29, 9AM-Noon
Saturday, Sept 16, 9AM-Noon
Monday, Sept 25, 5-7PM

PROPERTY LOCATION

Directions: From the intersection of Bertha Parker Bypass and US 62 in Tahlequah, travel east on US 62, crossing the Illinois River, for approximately 4.6 miles. Turn left on N. Briggs Flat Rd and follow for 1.5 miles until you reach a 4-way intersection and make a slight left on N. Oakdale Dr. Follow Oakdale Dr for 2.4 miles, turn left at the T-intersection onto N 569 Rd toward Bathtub Rocks. Follow N 569 Road for 4.2 miles, crossing bathtub rocks. Property entrance will be on the left (watch for signs).

AUCTION LOCATION

Northeastern State Universitys Multipurpose Event Center,
1041 N Grand Ave, Tahlequah, OK 74464

Located just south of Doc Wadley (football) Stadium

PROPERTY DESCRIPTION

The Fite Ranch is located northeast of Tahlequah, Oklahoma and is surrounded by the clear waters of the Illinois River winding through the Cookson Hills. Comprised of 354+/- acres, which is being offered in 8 tracts that range in size from 14+/- to 140+/- acres, the ranch offers opportunity for a wide range of Buyers. Of the eight tracts being offered in the auction, seven have frontage on the Illinois River and Tract 8 has over 1 mile along the banks of the Illinois! With diversity in terrain that ranges from fertile hay meadows to mature hardwood forests, the ranch has features that appeal to a variety of tastes. Buyers will have the opportunity to bid on any individual tract or combination of parcels that best fit their needs. Come investigate this unique opportunity to acquire some of Oklahomas finest recreational land!

TRACT DESCRIPTIONS

Tract 1: 21± ac comprised of mature timber and frontage along the river.

Tract 2: 21± ac with a mixture of mature timber, open meadow and frontage along the river.

Tract 3: 21± ac with approximately a 50/50 balance of open meadow and mature timber, with frontage along the Illinois.

Tract 4: 14± ac with approximately a 50/50 balance of open meadow and mature timber, with frontage along the Illinois.

Tract 5: 23± ac with a mixture of open land and mature timber. This parcel has an old home in poor but fixable condition along with river frontage.

Tract 6: 50± ac of mostly mature timber, this parcel has the most elevation of any tract in the auction and offers terrific views of the ranch.

Tract 7: 64± ac offering a mixture of open land and mature timber. This parcel has an old pole barn and frontage along the Illinois.

Tract 8: 140± ac that is a terrific blend of mature hardwood timber, hay meadows and over one mile of frontage along the Illinois. If you are seeking a larger tract with abundant water an opportunity like this rarely comes around!

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: Tracts 1 through 8 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 4% 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 be obligated only to convey a merchantable title by Trustees Deed, Without Warranty.

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 land shall be at closing; however, early access prior to closing may be granted with an additional earnest money deposit.

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

MINERALS: Seller specifically excepts and reserves all minerals, including without limitation, oil, gas, coal, coalbed methane, and all other hydrocarbons, lignite, and all metallic minerals, etc., if any, associated with the referenced real estate, and the term Property will not include any mineral rights.

SURVEY: The Seller shall provide a 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. Seller and successful bidder shall each pay half (50:50) of 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.

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

SELLER: Fite Trust

Auction Brochure

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