Karr Sealed Bid Auction Packet

© Copyright 2012 United Country-Theurer Auction/Realty LLC www.UCTheurerAuctions.com

38± Acres, Ottawa County, Kansas Sealed Bid Auction

Auction Number: 12076 38.47 Surveyed Tillable Acres in the South Half (S/2) Section 24, Township 12 South, Range 4

West, Ottawa County, KS Auction Date and Time: Sealed Bids Due Friday, November 30, 2012, 4:00 pm Property Location: Directions from Salina, KS: 12 miles North on US 81 Hwy to K-18 Hwy, 4.5 miles West to 110th Rd, 2 miles south to Buffalo Rd, 0.5 mile east Directions from Culver, KS: 2 miles east on Aspen Rd to 110th Rd, 1 mile north to Buffalo Rd and 0.5 mile east Auction Address: Submit Sealed Bids to:

United Country – Theurer Auction/Realty 802 East 16th Street - P.O. Box 601 Wellington, Kansas 67152

Detailed Description: We are proud to offer this 38± Acres tillable farmland located in Ottawa County, Kansas. For complete details, click the link below to access the Property Information Package which includes property information and Auction Terms and Conditions. If you have additional questions, feel free to contact our office at 800.207.6830. James L. Karr and Vonda K. Karr, Sellers

This offering is subject to errors, omission, or withdrawal without notice.


CONTENTS

Property Overview

Aerial Image

Survey

Soil Map

Auction Overview

Auction Bidding Checklist

Auction Terms & Conditions

Sealed Bid Instructions & Form

Auction Purchase Contract

DISCLAIMER All information contained in this package and any advertisements was obtained from sources believed to be accurate. However, no warranty or guarantee, expressed or implied, is intended or made with regard to the accuracy or completeness of this information. All purchasers must independently investigate and confirm any information or assumptions on which any bid is based. Neither Agents nor the Seller shall be liable for any errors or the correctness of the information provided in this package or in any advertisements or materials disseminated pertaining to the property. Property is sold “AS IS, WHERE IS, with all faults.” Prospective bidders should verify all information. The property is offered to qualified bidders without regard to prospective purchaser’s race, color, religion, sex, marital status, or national origin. The property will be offered “AS IS” without representation or warranty of any kind, including any representations regarding environmental conditions affect the property or its title. The property shall be offered subject to conditions, restrictions, rights- of-way, easement, and reservations, if any, of record; subject to the rights, if any of tenants-in-possession, under law. Neither Agents nor the Seller make or have made any representations or warranty with respect to the accuracy, correctness, completeness, content or meaning of the information contained herein. Any decision to purchase or not to purchase is the sole and independent business decision of the potential purchaser. No recourse of cause of action will lie against any of the above-mentioned parties should purchaser become dissatisfied with its decision, whatever it may be, at a later date.


PROPERTY OVERVIEW

38 +/- ACRES FARMLAND NEAR CULVER, KS Legal: 38.47 Surveyed acres in South Half(S/2) Section 24, Township 12 South, Range 4 West, Ottawa County, KS Primarily all tillable (Driveway Easement est. in 1984 divides the 38 acre tract into 2 separate parcels) Directions from Salina, KS: 12 miles north on US 81 Hwy to K-18 Hwy, 4.5 miles west to 110th Rd, 2 miles south to Buffalo Rd, 0.5 mile east Directions from Culver, KS: 2 miles east on Aspen Rd to 110th Rd, 1 mile north to Buffalo Rd and 0.5 mile east FSA Crop Bases & Yields Wheat: 17 Acre Base, 34 Bu/Ac Yield Oats: 1 Acre Base, 33 Bu/Ac Yield Gr Sorghum: 1 Acre Base, 43 Bu/Ac Yield Soybeans: 2 Acre Base, 16 Bu/Ac Yield (Note: Exact base acreage shall be determined by Ottawa Co. FSA office) 2011 Taxes: $2,311.80 (includes 156.8 Ac and Home) Soil Types: Primarily Crete silt loam and Geary silty clay loam (3-7% slopes) Crop Share: Buyer to receive landowner’s 1/3 share of 2013 wheat crop. Buyer to pay landowner’s 1/3 share of fertilizer and chemical Possession: At closing and following 2013 wheat crop harvest subject to 1/3-2/3 current oral tenant lease Minerals: Believed to be intact. All Seller-owned minerals conveyed to buyer at closing.


AUCTION OVERVIEW

Auction Date and Location Sealed Bids are due no later than Friday, November 30, 4:00 pm. No Exceptions. Packages received after the deadline will be returned unopened. Terms of Sale $10,000 Deposit due with the submission of the Sealed Bid Form in the form of a cashier’s check made Payable to United Country – Theurer Auction/Realty. NO EXCEPTIONS. Balance of the contract price is due at closing on or before December 27, 2012. All property is sold in “as is, where is, and with all faults” condition. You are urged to thoroughly inspect the property and complete your own due diligence before the auction!


AERIAL


AUCTION BIDDING CHECKLIST

A Deposit in the amount of $10,000 and in the form of a cashier’s check made payable to United Country – Theurer Auction/Realty is due with the submission of the Sealed Bid Forms. NO EXCEPTIONS. Please note if your cashier’s check does not accompany your sealed bid package, your sealed bid will not be considered. Registration Checklist: 1. Completed Sealed Bid Forms __________ 2. Signed Terms & Conditions __________ 3. Cashier’s Check __________ 4. Package Delivered no later than Friday, November 30, 2012, 4pm __________ You must have all of the required items in order to participate in the sealed bid

auction.


TERMS AND CONDITIONS OF SALE

RESTRICTIONS: Subject only to (1) all City, County, and State laws, ordinances and regulations and (2) any easements, encumbrances, and restrictions applicable to the Property. Seller is placing no restrictions on the property. ORDER OF SALE: Property is being offered through Sealed Bid Auction. Bids must be completed according to the directions contained in the Property Information Package. Seller reserves the right to request the top three bidders present their final and best offer. UTILITIES: United Country-Theurer Auction/Realty, LLC, nor the seller guarantees the availability of utilities, public or private. This consists of but is not limited to: wells, septic tanks, access to public utilities or any hookup fees therewith. Confirmation of utility availability is the bidder’s sole responsibility. DEPOSIT: A $10,000 Deposit is due with submission of your Sealed Bid Forms. The deposit must be in the form of a cashier’s check and made payable to United Country Theurer Auction/ Realty. TAXES: Seller shall pay 2012 taxes and all prior years. TITLE/CLOSING COSTS: Seller and Purchaser shall share equally in the cost of owner’s title insurance and escrow closing. Preliminary Title insurance has been prepared by Scheibeler’s, Minneapolis, Kansas, and will be updated with Purchaser information prior to closing. Purchaser is responsible for cost of lender’s policy. TITLE EVIDENCE/DEED: Seller will deliver to Purchaser an insurable deed for the Property at time of closing, conveying clear and marketable title of surface rights to said Property, free of all encumbrances, liens and judgment, except for those lawful conveyances and restrictions that exist on record before the date of the auction, as noted in the title insurance commitment. SURVEY: Property is being conveyed by the Deed / Plat of Record PROPERTY SOLD “AS IS, WHERE IS, WITH ALL FAULTS” WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND: The real property shall be sold subject to conditions, restriction, right-of-way easements, and reservations, if any, of record, filed and unfiled mechanic’s and materialmen’s liens, if any, and all other matters of record taking priority, subject to the rights, if any, of tenants-in-possession, and further subject to all conditions announced at the sale; and confirmation of the seller. Announcements made day of auction take precedence over previously printed material and oral statements.


CLOSING: Purchaser must close sale of real property on or before December 27, 2012. TIME IS OF THE ESSENCE. The entire purchase price must be paid by Cashier/Certified check or wired funds at closing. No purchase is contingent on financing. Purchaser is entitled to a deed for property upon full payment. Purchasers should have all tests and inspections completed prior to the date of the auction. Only the Purchase Contract shall set forth Seller’s obligations to the successful Bidder. ADDITION OR WITHDRAWAL FROM SALE; CONDITION OF SALE: All bids are subject to Seller approval and the tracts are being offered for sale with that reservation. The Auctioneer reserves the right to cancel the auction up to the time prior to the commencement of bidding. If a subsequent survey by the purchaser shows a greater or lesser number of acres or square footage this will not affect the purchase or purchase price. CONFIRMATION: Selling subject to Seller’s Confirmation. Confirmation of the sale will be no later than Tuesday, December 4, 2012, at Noon. Deposit for unaccepted offers will be returned to bidders. AGENCY: The Broker/Auctioneer is acting as agent for the Seller only. During bidding, the Auctioneer has the right to reject any raise that in his opinion is not commensurate with the property value. In the event of any dispute after the sale, United Country-Theurer Auction/ Realty’s record of final sale shall be conclusive. All information and materials provided by Auctioneer is subject to inspection by all appropriate parties and the Auctioneer assumes no liability for its accuracy, errors, or omissions nor its agents, the Seller or its agents. Prospective bidders should independently verify any information being materially relied upon in making a purchasing decision. LIQUIDATED DAMAGES: Purchaser will forfeit all of their deposit if they cannot close within the stated time herein and no written extension has been granted by the Seller. If such action occurs, United Country-Theurer Auction/Realty, LLC, hereby has the right to disperse the deposit as stated in the listing agreement and the purchaser has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost, and additional cost of auction as not defined in this agreement. These liquidated damages do not restrict the seller from suing the purchaser for performance damages and/or any additional damages the seller suffers by the default of the purchaser. ARBITRATION: For disputes that are not resolved by the parties within 10 days after either party gives notice to the other of its desire to arbitrate the dispute, the dispute shall be settled by binding arbitration by the American Arbitration Association in accord with its then-prevailing rules. Judgment upon the arbitration award may be entered in any court having jurisdiction. The arbitrator shall have no power to change the provisions of this Agreement. The arbitrator shall consist of one arbitrator, who must be a real estate attorney actively engaged in the practice of law for at least the last five years.


BUYER’S NOTE: Individual purchases are to be considered as singular transactions not contingent on the sale of other properties or tracts. United Country-Theurer Auction/Realty, LLC, reserves the right to offer the property in individual tracts, combination of tracts, as a whole or in any way that we see fit in order for it to bring the most money for the owner. The sale of combinations supersedes the sale of individual tracts. The decision of the Auctioneer is final. Seller and United Country-Theurer Auction/Realty, LLC, reserve the right to amend any terms and conditions prior to or during the auction. BIDDER’S DUTY TO INSPECT: All information published, announced, or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller, the auctioneers, or any other person or entity. Personal onsite inspection of all property by potential bidders is strongly recommended. All sales are subject to the conditions and terms contained herein. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, rights-of way, or any other information that can be obtained as public record in the county courthouse or any municipal office concerning subject properties. Any and all announcements made from the auction stand take precedence over all other verbal, printed, announced, and/or distributed information. Please note that you are bidding to purchase the Property “As Is, Where Is” with no guarantee or warranty. United Country-Theurer Auction/Realty, LLC, are agents of the seller and their fiduciary duties of loyalty and faithfulness are owed to their client (the seller) I was provided a copy of the “Notice of Auction Information, Terms and Conditions” at the time I registered and have read and understand the information as printed. ______________________________________ __________________ SIGNATURE DATE


BIDDER INFORMATION Please Print

______________________________________________________________________________ Print Name of Registered Bidder ______________________________________________________________________________ Company Name, If Any Mailing Address: ______________________________________________________________________________ Street/PO Box City State Zip Physical Address (if different than Mailing Address): ______________________________________________________________________________ Street City State Zip ___________________________________________ Email Address Phone Numbers: _________________________________ Home _________________________________ Mobile _________________________________ Work


SEALED BID INSTRUCTIONS Thank you for your interest and involvement in the SEALED BID SALE of the 38± Acres, Ottawa County, Kansas, and located near Culver, Kansas. If you would like to submit a Sealed Bid to purchase the Property, please follow these instructions and submit your bid no later than Friday, November 30, 2012, 4:00 pm CST. 1. Complete the Sealed Bid Summary Form for the property that you are submitting a bid.

Please fill in the amount of your bid, your contact information, and sign the Bid Summary Form.

2. Prepare certified funds in the amount of $10,000 made payable to: United Country – Theurer Auction/Realty. DO NOT SEND A CASH DEPOSIT. The total deposit requirement is $10,000.

3. Place the completed Sealed Bid Summary Form, Signed Terms & Conditions, and the check

in a sealed envelope with the outside clearly marked “KARR LAND.” Send to: Cammy McComb, PO Box 601, Wellington, Kansas, 67152, or hand-deliver to: Cammy McComb, 802 East 16th Street, Wellington, Kansas, for delivery on or before Friday, November 30, 2012, 4:00 pm CST.

4. Bidding closes at 4:00 pm CST on Friday, November 30, 2012. United Country – Theurer

Auction/Realty, its agents, and the Seller are not responsible for bids that do not arrive prior to bid closing. All sealed bids submitted will be presented to the Seller for consideration.

5. The Seller reserves the right to request the top three bidders to present their best and final

offer before confirming the sale.

6. Confirmation of the sale will occur no later than Tuesday, December 4, 2012, at Noon.

7. If a bid is rejected, payment of deposit referenced herein will be returned via overnight delivery within five business days of Seller confirmation.

8. Closing must occur on or before December 27, 2012. TIME IS OF THE ESSENCE.

9. Please return the Terms & Conditions, signed with your Sealed Bid Form.

If you have any questions, you call 800.207.6830, or visit www.UCTheurerAuctions.com to download the Property Information Packet.

http://www.uctheurerauctions.com/


SEALED BID FORM

Bid Summary Form I, ______________________________________, hereby offer for the property, as specifically enumerated below, the total bid amount indicated below. Consequently, enclosed herewith is my deposit of $10,000. It is understood that all property is being sold without any warranty of any kind and “as is” and “where is.”

Property: 38.47 Surveyed Tillable Acres in the South Half (S/2) of Section 24, Township 12 South, Range 4 West of the 6th P.M., Ottawa County, Kansas High Bid: $ ___________________ Less Deposit: $ $10,000________ Balance of Purchase Price $ ___________________

Bidder’s Signature: ______________________________________________________________

Bidder Printed Name: ____________________________________________________________

Address: ______________________________________________________________________

City: ______________________ State: __________ Zip Code: ________________

Home Phone: ________________________ Mobile Phone: _____________________________

Email: ________________________________________________________________________

CHECKLIST – Make sure you have included these items to submit a bid!!

______ Signed Sealed Bid Summary Form

______ $10,000 Earnest Money Deposit in the form of Cashier’s Check

______ Signed Terms & Conditions

Karr Sealed Bid Auction Packet

Documents

Transcript of Karr Sealed Bid Auction Packet