TERMS AND CONDITIONS:
MANNER OF SALE
Sale is absolute with the property selling to the highest bidder(s) auction day. Real Estate will be offered in individual tracts and combinations of tracts. The property will sell in the manner which produces the highest price for the Seller.
TERMS
10% of the contract price will be due immediately after the auction, with the balance due at closing, on or before April 15, 2008. Personal and corporate checks are acceptable for the down payment with the final payment in good funds. Purchase is not contingent upon financing, appraisal, survey or inspections. Financing, if necessary, needs to be approved prior to the auction. Each successful bidder will be required to enter into a Purchase Contract with no contingences immediately following the auction. Example copies of the contract will be available prior to the auction.
EVIDENCE OF TITLE
Title insurance, in the amount of the purchase price, will be paid 1/2 by Seller and 1/2 by Buyer. Title insurance commitments will be provided on sale day.
INSPECTIONS
There is no inspection period in the contract, therefore, each potential bidder is responsible for conducting his own independent inspections and due diligence concerning pertinent facts about the property prior to the auction. All information is deemed to be from reliable sources. Neither the Seller nor Shay Realty, Inc. is making any warranties about the property, either expressed or implied. To schedule an inspection of the property, contact Shay Realty, Inc.
ACREAGES
All acreages are considered to be approximate and tracts will be sold by acres advertised. The acreage figures are from sources believed to be reliable. All FSA information is subject to change. The FSA acres may not be the same as deeded acres.
TAXES
All taxes are considered approximate. Seller will pay the 2007 and prior years’ taxes with the taxes for 2008 and subsequent years to be the responsibility of the Buyer.
MINERAL RIGHTS
Seller is reserving all oil, gas and mineral rights for 20 years.
EASEMENTS
Sale is subject to all rights-of-way and easements, whether recorded or not, and subject to any oil and gas leases of record.
SURVEYS
There have been no surveys on the individual tracts. Bidders should satisfy themselves as to individual tract boundaries. Neither the Seller nor Shay Realty, Inc. is making any warranties as to the exact location of tract boundaries. The property will sell by legal description only; Seller will not provide surveys. Surveys and boundary fences, if desired, shall be the responsibility of the Buyer(s).
POSSESSION & CROPS
Possession at closing. There are no growing crops.
FSA PAYMENTS
Buyer to receive all FSA payments associated with the 2008 crop year.
AGENCY
The Listing Broker with Shay Realty, Inc. is the Seller’s Agent. No compensation for other agents available for this transaction. Announcements made auction day take precedence over any printed material or prior representations.
