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DRYLAND FARM AUCTION - 159+/- ACRES OFFERED IN 1 TRACT IN SCOTT COUNTY, KANSAS

Scott County, Kansas

Wed, May 22, 2019

AUCTION IS OVER

• 159+/- Acres offered in 1 Tract • Richfield & Ulysses Silt Loam Soils • Easy Access (1/2 Mile) from US Hwy 83 • 5 Miles South of Scott City • Immediate Possession Available


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Inspect Property at Your Leisure

PROPERTY LOCATION

From Scott City, KS travel south on US Hwy 83 for 5 miles and signs will be located on your left at W Rd 90.

AUCTION LOCATION

Bryan Conference Center/Wheatland Broadband, 416 Main Street, Scott City, KS 67871
Directions to Auction Site:
From the intersection of KS-96 and US Hwy 83 (Main Street) turn north on Main Street in downtown Scott City and the Bryan Conference Center will be on your right.

TRACT DESCRIPTIONS

Tract 1: 159.00± ac A quality dryland farm located just south of Scott City, Kansas with convenient access off of US Hwy 83. The farm is available for the 2019 Crop year, with potential immediate possession after the auction date at the Buyers option. Predominant soil types on the farm are Richfield Silt Loam and Ulysses Silt Loam. This is a great farm to add to an existing farming enterprise or as an investment, the property will be offered in one tract.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: Property will be offered in one individual tract, bidding will be on a lump sum basis.

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.

BUYERS PREMIUM: A 4% Buyers Premium will be added to the Bid Price and included in the Contract Purchase Price.

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 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.

PRE-CLOSING ACCESS: Access to the Property prior to closing for purposes of general farming activities is available with additional 10% earnest money deposit and execution of the Pre-Closing Access Addendum.

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.