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LAND AUCTION - 303+/- ACRES OFFERED IN 8 TRACTS IN POTTAWATOMIE COUNTY, OKLAHOMA

Pottawatomie County, Oklahoma

Owner: Irene Sharp Farms, LLC Tue, Jun 19, 6:00 PM

• 303+/- Acres offered in 8 Tracts • From 3+/- to 126+/- Acres • Quality Farmland • Mature Pecan Grove • Multiple Potential Building Sites • Keokuk Silt Loam Soils • Excellent Recreational Land • Nearly 1 Mile of North Canadian River Frontage • Online Bidding Available


OPEN HOUSE/INSPECTION DATES

Friday, May 18 from 4-6pm
Thursday, May 31 from 4-6pm
Wednesday, June 13 from 12-2pm

Meet a Schrader Representative on Tract 6.

PROPERTY LOCATION

Take Exit 186 off of Interstate 40 and travel south on N Harrison Avenue (Hwy 18) for 3.5 miles, then turn left onto Hwy 3E. Travel on Hwy 3E for 4 miles and property will begin on your left.
Property Address: 46204 Hwy 3, Shawnee, Oklahoma 74801

AUCTION LOCATION

Gordon Cooper Technology Center, 1 John C. Bruton Drive, Shawnee, OK 74804. Take Exit 186 off of Interstate 40 and turn south on N Harrison Avenue. Travel on N Harrison Avenue (Hwy 18) for 0.5 mile and turn left onto E 45th Street. Travel on 45th Street for 0.3 mile and turn left on John C. Bruton Drive.

PROPERTY DESCRIPTION

The Sharp Farm is located just east of Shawnee, Oklahoma along State Highway 3E, only 2.5 miles from the Shawnee Country Club. This is a diverse property with multiple potential building sites having elevated views overlooking the North Canadian River and a gentle slope into the productive farmland bottoms below. With nearly 1 mile of frontage along the North Canadian River, while only 62+/- acres of the entire property in the 100-year flood plain, this is a unique opportunity. Along the east boundary of the property sits an impressive grove of approximately 40 mature native pecan trees. The farmland is primarily comprised of 147+/- acres of Class I, Keokuk Silt Loam Soils. The farm is being offered in 8 Tracts from 3+/- to 126+/- acres, providing an opportunity for buyers seeking a potential home-site, farmland buyers or a combination thereof. Bidders may place bids on any individual tract or combination of parcels that best fits their needs.

TRACT DESCRIPTIONS

Tract 1: 10± ac along Hwy 3, excellent potential building site or small farm. This parcel has quality soils and is mostly tillable with some mature timber along the back of the property.

Tract 2: 13± ac along Hwy 3 with a nice pond, gentle topography and established Bermuda grass. Great potential building site.

Tract 3: 3± ac along Hwy 3 with existing improvements. 1,334 square foot home built in 1928, metal shop building and small barn. Excellent starter home or foremans house to keep together with the whole property.

Tract 4: 16± ac along Hwy 3, excellent elevation and views of the farmland bottoms below as well as a small pond.

Tract 5: 16± ac with 2 barns and an impressive view of the land below. This parcel is an outstanding potential building site.

Tract 6: 19± ac that encompasses a dense tree line along Deep Rock Creek. Excellent potential building site with lots of character.

Tract 7: 126± ac with a combination of tillable farmland, Bermuda pasture and mature hardwood with frontage along the North Canadian River.

Tract 8: 100± ac with a combination of tillable farmland and impressive grove of 40+/- Native Pecan trees with frontage along the North Canadian River.

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 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 land shall be at closing; subject to rights of current tenants which leases expire September 30, 2018.

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

OWNER: Irene Sharp Farms, LLC

Auction Brochure

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