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KOKOMO GRAIN CO. TENNESSEE AUCTION - 3 TRACTS IN MANCHESTER, DECHERD & TULLAHOMA, TENNESSEE

Manchester - Decherd - Tullahoma, Tennessee - Between Nashville & Chattanooga

Owner: Kokomo Grain Co. Wed, Apr 18, 1:00 PM

• 3 Grain Elevators • 920,000 Bushel Storage Capacity • Non Contingency Offer(s) may be submitted beginning March 13, 2018 - March 16, 2018. All Pre-Auction Offer(s) shall remain open for acceptance until March 20, 2018 at 5pm CST.To receive a set of Pre-Auction offer documents containing terms, conditions and forms, contact the Auction Company or go to www.schraderauction.com


OPEN HOUSE/INSPECTION DATES

By Appointment
Thursday, March 1 from Thursday, March 8
Contact Brad Horrall at 812-890-8255

PROPERTY LOCATION

Tract 1 - Manchester: 185 Interstate Dr., Manchester, TN 37355. Located at the junction of I-24 & McMinnville Rd.
Tract 2 - Decherd: 406 N 1st Street, Decherd, TN 37324. Located approx. 10 miles Southwest of Exit 127 off I-24 in the heart of Franklin County.
Tract 3 - Tullahoma: 502 East Decherd Street, Tullahoma, TN 37388. Location: from Exit 111B off I-24 at Manchester, take Hwy 55 south to S. Roosevelt St., in Tullahoma, turn right to East Decherd St., turn right to the property.

AUCTION LOCATION

Manchester-Coffee County Conference Center, 147 Hospitality Blvd., Manchester, TN 37355. (At Exit 114 off I-24)

TRACT DESCRIPTIONS

Tract 1: 0.0± ac
MANCHESTER: 362,000 BUSHEL
Address: 185 Interstate Dr., Manchester, TN 37355.

Located at the junction of I-24 & McMinnville Rd.
This grain elevator serves a regional clientele. Features include 362,000 bushel storage capacity, four grain legs, office, shop building, open face machinery storage building, truck scale (10 ft. x70 ft.), covered unloading pit & 3 phase electric service. Rail spur on active track. Truck unloading dump speed 8000/BPH.
Est. Real Estate Taxes $8389 annually.

Tract 2: 0.0± ac
DECHERD: 278,000 BUSHEL
Address: 406 N 1st Street, Decherd, TN 37324.

Located approx. 10 miles Southwest of Exit 127 off I-24 in the heart of Franklin County.

Features include 278,000 bushel storage capacity, three grain legs, office, Mettler 10 ft.x70 ft. truck scale, and 3 phase electric. There is an additional 80,000 bushel storage available for lease. Rail spur on active track. Truck unloading dump speed 8000/BPH.
Est. Real Estate Taxes $2649 annually.

Tract 3: 0.0± ac
TULLAHOMA: 280,000 BUSHEL
Address: 502 East Decherd Street, Tullahoma, TN 37388.

Location: from Exit 111B off I-24 at Manchester, take Hwy 55 south to S. Roosevelt St., in Tullahoma, turn right to East Decherd St., turn right to the property.

Features include 280,000 bushel storage capacity, 10-16,000 bushel hopper bottom bins with 3500 bph unloading conveyor, 4-30,000 bushel hopper bottom bins with 7500 bph unloading conveyor, 2 grain legs, office building, large parking area, and 3 phase electric. There is a CSX Rail car spur having 7 car capacity and unloading pit. Active railroad spur.
Est. Real Estate Taxes $8329.77 annually.


INTERACTIVE MAP

AREA MAP(S)

PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts and as a total unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete.

BUYERS PREMIUM: At April 18th Auction a 5% Buyers Premium will be added to the final bid price and included in the contract purchase price.

DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. 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.

ACCEPTANCE 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. All final bid prices are subject to the Sellers acceptance or rejection.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide Warranty Deed(s).

CLOSING: The balance of the purchase price is due at closing, which will take place within 45 days of presentation of title. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Real estate taxes will be prorated to the date of closing.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

SURVEY: The Seller shall provide a new survey where there is no existing legal description. 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 to record the conveyance.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its 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.

Auction Brochure

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