prospectus for 9-23-2013 branson real estate auction
DESCRIPTION
Lafayette County Real Estate Auction. 101.55 Surveyed Acres at the I-70 & MO Hwy 13 Junction offered in 9 Tracts ranging in size from 1.33 Acres to 36.08 Acres. Tillable Ground, Pasture, Commercial Building, Residence. This land offers tremendous development opportunity.TRANSCRIPT
BRANSON FARMS, ET AL Lafayette County
LAND AUCTION
MON, SEPTEMBER 23, 2013 • 10:00 AMAMERCAN LEGION HALL HIGGINSVILLE, MO 1001 West 22nd Street
Branson Family Owned Over 100 years
For Sale Information Contact
Mike Williams816-797-5450
www.wheelerauctions.com • [email protected]
T 49 N – R 26 W – Sections 35 & 36 101.55 Surveyed Acres
I-70 AND MO HWY 13 JUNCTION - 49 MILE MARkER
SEllERS: THE BRANSON FAMILY FARMS& RONCELLI TRUST
OFFERED IN9 TRACTS
T48N - R26W - Section 1
TABLE OF CONTENTS
Auction Information and Notes .......................................................................................................................... 4
Auction Terms and Conditions ........................................................................................................................... 5
Higginsville Economic Development Statements and Information ...............................................................6-7
Property Tract Map ..........................................................................................................................................8-9
Tract Descriptions, Assessors Maps, FSA Map and Aerials ........................................................................10-25
Photos ................................................................................................................................................................ 26
Auction Sale Contract ....................................................................................................................................... 27
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AUCTION INFORMATION & NOTESBRANSON FAMILy FARMS AND AN ADjOININg PROPERTy IN RONCELLI TRUST
This Land Has Been in the Branson Family for over 100 years!
• ProPerty Location: All land is located at the 49 Mile Marker with I-70 frontage via the outer road, or MO HWY 13. In addition tract 6 and 7 have frontage on Grange RD to the North and tract 9 has Hazel Dell RD on the South.
BRANSON PROPERTy - TOwNSHIP 49N-RANgE 26w- SECTIONS 35 & 36RONCELLI TRUST PROPERTy - TOwNSHIP 48N-RANgE 26w-SECTION 2
• SaLe Site: American Legion Auxiliary Building, 1001 W 22nd St, Higginsville, MO 64037 HWY 13 and 22nd St, just 5 miles north of the Higginsville I-70 Junction • SaLe time: 10:00 A.M.• No Buyers Premium at this Auction• auction Procedure: We will be using the Multi-Parcel real estate auction method to sell the 8 tracts of Bran-
son property. This computer enhanced method utilizes a visual screen that provides bidders the opportunity, at the bidders discretion, to bid on individual tracts, combination of individual tracts or the entire offering throughout the course of the auction. Tract 9 owned by the Roncelli Trust will be a “ stand alone” property and will sell following the conclusion of the Branson Family Land Auction.
contractS: Immediately following the conclusion of the auction we will write contracts. down Payment: 10% down payment is due at the signing of the contract. your bidding is not contingent upon
financing and the escrow money will be payable to and held by Mid-West Title Company.tenant rightS: prevail for the 2013 crop year and there are no tenant agreements in place for 2014 .cLoSing: on or before Tuesday, October 22, 2013 at the office of Mid-West Title Company, Lexington, MO Possession will be given at closingtaxeS: All 2012 Taxes are paid and the 2013 taxes will be prorated to the time of closing.higginSviLLe economic deveLoPment: Note the information provided on pages 6 and 7 available to busi-
nesses, investors, and Agriculture regarding opportunities and resources available to the buyers of these properties.tractS: Complete Tract information is listed with each Tract description, photos, and maps.Surveyor: M & M Land Survey, Mr. Terry McCanless, Deputy Lafayette County Land Surveyor, Richmond, MO,
(Cell # 816-506-6226; email: [email protected]), will be available on sale day to assist with any questions, or be of service on any property needs.
auctioneerS note:
For Sale Information Contact: Wheeler Auction Representative,
Mike Williams • [email protected] • Website: www.wheelerauctions.com
SALE DAY CELL PHONESChas Wheeler 573-473-2508 • Mike Williams 816-797-5450
Charlie Nordwald 636-795-4552 • Bill Ringhausen 573-754-2254Clint Youse 660-651-4779 • Sonny Ketchum 523-721-2021
Wheeler Auction and Real Estate is honored to navigate the liquidation of this prime real estate know as the Branson Family Farm at the Higginsville Junction of I-70 and HWY 13. The entire Branson family has decided it is time to move on. This land has been in the Branson family for well over 100 years. We believe it is the ultimate location for new business growth along I-70 Kansas City/St. Louis and the North/South Springfield to Iowa corridors. Land with this kind of frontage along an intersection that sees over 35,000 vehicles pass by each day is increasingly difficult to procure. This auction will make it easy for area residents, farmers, developers, or investors to reap the spoils of good investment timing and money. We invite you to be with us at this historic land auction, Monday, September 23rd, 2013, visit with the Branson Family and the Roncelli’s, and allow the Wheeler Auction staff to be of service to you. Chas & Mike
AUCTION TERMS & CONDITIONSProcedure: Property shall be sold Subject to Confirmation of Bid by Seller. Down Payment: Ten percent (10%) down payment the day of auction, upon signing a purchase agreement immedi-ately following the close of bidding. The down payment may be paid in the form of personal check, business check, or cashiers check. The remainder of the purchase price is payable at closing within 30 days. yOUR BIDDINg IS NOT CONDITIONAL UPON FINANCINg, be sure you have arranged financing, if needed, and are capable of paying the balance at closing.Title: Sellers shall provide and execute a proper deed conveying the real estate to the buyer(s). Seller to pay for title insurance.Possession: Possession will be given at closing.Real Estate Taxes: The real estate taxes for the year 2013 shall be prorated to date of closing and buyers shall be re-sponsible for all periods thereafter.Mineral Rights: The sale shall include 100% of the mineral rights owned by the sellers.Easements: Sale of the property is subject to any and all easements of record.Acreage: All acreage is determined from a survey, tax documents, current legal descriptions, assessors maps and / or aerial photos. Those documents will be available for your inspection on sale day. All due diligence by the sellers to determine actual acreage is in place.Survey: Any need for survey shall be determined solely by the sellers. At sellers’ option, sellers shall provide a survey for any parcel where there is no existing legal description or where the tract divisions create new boundaries. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres.Closing: Anticipated closing date shall be on or before Tuesday – October 22, 2013 - or on a date mutually agreed upon by the buyer(s) and the sellers conducted at the office of Mid-West Title Company, 525 S 13, Lexington, MO 64067 Phone 660-259-4631Agency: Wheeler Auctions & Real Estate and its representatives are Exclusive Agents for the sellers.Disclaimer: The property is being sold on an “as is, where is” basis, and no warranty or representation, either express or implied, concerning the property is made by either the sellers or the auction company. Each bidder is responsible for conducting its own independent inspections, investigations, and all due diligence concerning the property and the auction. Information contained in this brochure is subject to verification by all parties relying on it. Diagrams/di-mensions in this brochure are approximate. Acreage is estimated. All information contained in this brochure and any related materials are subject to the terms and conditions of sale outlined in the purchase contract. Auction conduct and bidding increments are at the sole direction and discretion of the auctioneer. All decisions of the auctioneer are final. The sellers and the Auction Company reserve the right to preclude anyone from bidding if there is a question as to the person’s credentials, fitness, intent, etc.
New Data, Corrections and Changes: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information. ALL ANNOUNCEMENTS AND INFORMATION GIVEN FROM THE AUCTION PODIUM SHALL TAKE PRECEDENCE OVER PREVIOUSLY PRINTED OR STATED ADVERTISEMENT.
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I-70 & MO 13 INTERCHANGE
AT A GLANCELOCATION & TRAFFIC
• Nestled between two major metro-politan areas (Kansas City, 35 miles to the west; Columbia, 75 miles to the east)
• I-70 Traffic Count – 28,797• Hwy 13 Traffic Count — 6,584• More than 35,000 cars daily
EXISTING BUSINESSES• Pilot Travel Center• Casey’s • Kleinschmidt’s Western Store• Super 8 Motel• Camelot Inn • Great Escape RV Park• Arcadian Moon Winery• McDonald’s• Advanced Metals Recycling• Diamond R Equipment
INCENTIVES• Pro growth leadership willing to
explore use of incentives
COUNTY DEMOGRAPHICS• 2011 Median Household Income:
$47,604• Population: 33,080• 15-mile radius: 30,379• 20-mile radius: 71,590
UTILITIES AT INTERCHANGE• Municipal owned Electric Utility
F 5MW Generation Plant• Municipal owned Water Utility
F 500,000 gallon Water Tower• Municipal owned Sewer Utility• Locally owned Citizen’s
Telephone Co.F Toll Fiber
ADDITIONAL INFORMATION• Donna Brown
Economic Development [email protected]
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Property South of I-70
AUCTION TRACK MAP
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208.7
1
208.71
310
363.9
2
60
60
776.05
1
544.8
4
770.72
PB
15
-25
6
492.5
6
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I 70 E
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WI 7
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MO 13
ASSESSORS OVERVIEw
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23
4
Property South of I-70
24.82
48
12
9
243
15
2
47
920
0
407.4
50
320
200
290
200
300
397
225 R
225
30
50
526.38
310
363.9
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30
60
60
30
220
220
322.32
326.92
290R
290R
PAPER
KITE
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ASSESSORS OVERVIEw
5 6
78
Property North of I-70
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ASSESSOR’S MAPS
8
1
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Tract 9
ASSESSORS MAP
CAROLyN S. RONCELLI TRUST PROPERTy
* Hazel Dell Rd completed after photo was taken
Tract 1• 7.21 surveyed acres
• 6.89 acres in city limits zoned Residential, .32 acres as agriculture
• approximately 4 acres tillable
• corner property along I-70 and Hwy 13
T he most prime location on the market today with the best North, South, East or West
access and sight lines. It is extremely rare to have corner Real Estate available at auction on any major thoroughfare anywhere in America.
• 2012 Paid tax: County $776.15 -- City $6.10• Higginsville City Water• KCP& L Utilities• City Sewer lines do not extend south of I-70, however access for such a sewer line would be
available and would run to the Wastewater Treatment facility on City property South and East of the Higginsville Junction.
• Several of the outbuildings are in good condition, however the original home is deemed not worthy of “ move-in” residency. A major overhaul would be required to make it livable. Upgrades needed would include a new septic system, new water system and new utilities plus complete home renovation.
• Two old wells are disclosed on tract 1, being a drilled well and a hand-dug well. Neither is operational, both are covered and the depth is unknown.
Property is referred to as the Branson Homestead with house and outbuildings
Sellers: Jody Branson cornwell & et aL
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Tract 2
• 2012 Paid taxes: County and City total $53.47
• All frontage is along the South outer road known as old HWY 40 and along I-70. • Higginsville City Water
• KCP&L Utilities
• This tract is a pasture with small pond, tillable acres currently in soybeans and highly visible from I-70.
• The Multi-Par auction system will allow a bidder and buyer to put any combination or all of these tracts south of I-70 and west of 13 to go together if they so choose.
• Tenant rights prevail for the 2013 crop year. No tenant agreement is in place for 2014.
Sellers: Lucille c. Branson irr trust, et aL
• Zoned agriculture
• 9.83 surveyed acres all in city limits
• approximately 6.5 acres tillable
• north frontage along old uS 40 Outer Road and I-70
Tracts #2 & #4
Tract 2 is a very desirable size and location for potential
business opportunities.
2 4
• 2012 Paid Taxes: County $38.62 -- City $10.30• Higginsville City Water• KCP&L Utilities• Tract 3 contains land within and outside the Higginsville city limits.• Tenant rights prevail for the 2013 crop year. No tenant agreement is in place for 2014.• Although no current city sewage system is in place for tract 3, it would be available and be the same as described with Tract 1.
Sellers: Lucille c. Branson irr trust, et aL
Tract 3
• Property within the city limits zoned Agriculture
• Pasture and timber with approximately ¼ mile of Hwy 13 Frontage
• 36.08 total surveyed acres / 7.09 acres along Hwy 13 in city limits
• approximately 22 acres tillable
Tract 3 is the largest tract to sell in the Branson Family Auction. All front-age is along MO HWY 13. The tract
is currently in pasture with some timber down the middle and south end. Access to tract 3 is from HWY 13 and it borders the Roncelli property that will sell following the Branson Land Auction. If the buyer of Tract 3 so chooses to later purchase the Roncelli tract, then access would also be available from Hazel Dell Road and 13 for all of the southern land in the auction.
Tracts #1 & #3
1
3
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The visibility, size and access of all the tracts on the south side of I-70 lend them-selves nicely to future development. Any
combination of those contiguous tracts by way of the Multi-Par Auction method will allow a bidder and buyer to own just what he wants for whatever use he wishes to make of them.
Tract 4
• 10.40 Surveyed acres approximately 7+ acres tillable
• 2012 Paid Taxes: $33.87• All of tract 4 is outside the Higginsville City Limits and currently in soybean production.• This tract has 363.92 feet of outer road and I-70 frontage.• Tenant rights prevail for the 2013 crop year. No tenant agreement is in place for 2014.
Sellers: Barbara a. Branson trust
Tracts #4 & #2 & #3
Tracts #4 & #2
42
4 23
• Zoned commercial
• 1.33 Surveyed acres all in city limits
• two-story brick building - 1,568 sq. ft. on main floor
Tract 5
• 2012 Paid Taxes: $713.27• Higginsville City Water• Higginsville Sewage System• KCP&L Utilities• No tenant is currently occupying this building and land associated with Tract 5
Property Referred to as the Alma Meats Retail Outlet
Sellers: Branson & Sons, inc.
This location being along the Pilot Travel Center entrance across the highway from
Casey’s is a highlight for anyone that has their sites on the future. This previous retail outlet is functional as it sets or may be modified to suit a buyer’s needs.
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• 2012 Paid Taxes: $824.88• Higginsville City water• Higginsville City sewer system• KCP&L Utilities• 832 sq. ft. home with attached garage sits on the south edge of tract 6.• Entrance to Tract 6 is currently on the South end of the property across the parking lot of Tract 5. Should
separate buyers purchase Tract 5 and Tract 6 then a 30’ easement will be granted to the buyer of Tract 6 for access to their property if deemed necessary. It is also noted that site lines and distances are acceptable per MO-DOT rules and regulations for entrance directly off of HWY 13 and also along Grange RD to Tract 6.
Sellers: Branson & Sons, inc.
Tract 6
Tracts #5 & #6 & #7
Tracts #6 & #7
• Zoned residential
• 4.49 Surveyed acres with 832 sq. ft. home/attached garage all in city limits
• ¼ mile frontage on hwy 13 with 200’ frontage on grange RD
Tract 6 represents a significant parcel as it relates to the 4.49 acres and the unusually high
amount of major highway frontage afforded to that size tract.
6
7
Highway 13
5
67
• Zoned agriculture
• 27.9 Surveyed acres - FSA 25.32 Acres
Tract 7
• 2012 Paid Taxes: County -- $40.95 City -- $26.83• Higginsville City Water• Higginsville Sewer System• KCP&L Utilities• 7.0 acres lies within the city limits• 20.9 acres is outside the city limits• Over 1/4 mile of HWY 13 Frontage and 1/4 mile of Grange Rd Frontage • Tenant rights prevail for the 2013 crop year. No tenant agreement is in place for 2014.• Access on the North along Grange Rd• Access on the South with the Higginsville Wastewater Treatment Road
Sellers: Branson Farms & et aL
An income producing tract with super access and frontage is one of the reasons this tract should be on your radar. with the size of tract 7 being 27.9 acres it has many options available to a progressive buyer that wishes to move on a project immediately or wait to see what develops at the I-70 and Hwy 13 interchange.
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• Zoned commercial
• 2.39 Surveyed acres all in Higginsville city limits
• ingress/ egress easement with Casey’s and frontage on north
along unmarked city street
Tract 8
• 2012 Paid Taxes: $131.42• Higginsville City Water• Higginsville Sewer System• KCP&L utilities
This parcel directly to the West of Casey’s, is accessed along an un-marked city road that also services
the North Junction Wastewater Treatment System. It has easement access with Casey’s along its East boundary and key portions of that easement are provided below for your review. The entire document is available upon request. This Tract borders the Camelot Motel on the south and a MO-Dot Service lot on the West. This 2.39 acre tract is currently in grass and located just off HWY 13 but within the city limits of Higginsville.
Sellers:Richard L. Branson Trust
and Carl E. Branson
8
8
8
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• 2.07 acres Surveyed acres to the center of the road
• hwy 13 and hazel dell road frontage
• t48n—r26w—Section 1
Sellers:Carolyn S. Roncelli Trust
Steve and Carolyn Roncelli
Tract 9
• 2012 Paid Taxes: $880.95 This tax amount represents the entire Roncelli property of 4.60 acres of which contains a residence and out-buildings, Tract 9 will only be the 2.07 acres with no improvements making the 2013 and beyond taxes much less. Per the Lafayette Co. Assessors, the estimated taxes on the 2.07 acres is $118.00.• Lafayette County Water Dist. #2• KCP&L Utilities• Tract 9 is outside the city limits
9
9
9
Tract 9 will be auctioned at the end of the Bran-son Family Auction and will sell as a stand-alone property and is not subject to any of the Multi-Parcel Method or process used to liquidate the Branson Family Farm.This property is offered as a timely opportunity for a buyer that wishes to purchase joining land to the Branson’s property or who wishes to utilize the road frontage afforded it by the intersection of two roads.Tract 9 is unique and a welcome addition to this land auction as it borders the Branson Tract 3 on its North and has access to both HWY 13 and Hazel Dell RD. The tract size and proximity to the Higginsville Junction affords a myriad of possibilities for any buyer as it lays just .3 of a mile from the Junction
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PHOTO gALLERy
AgREEMENT TO PURCHASE REAL ESTATE ATPUBLIC AUCTION
THIS AGREEMENT TO PURCHASE REAL ESTATE AT PUBLIC AUCTION (later called the “Agreement”), made and entered into as of this 23rd day of September, 2013 by and between _______________________________________________________________________________________________________________________________________________________________________________________(collectively later called the “Seller”), and_______________________________________________________________________________________________________________________ (later called the “Purchaser”), as the highest bidder on the property (as defined in Paragraph 1) at the public auction on this date (the “Auction”), is made subject to the following terms, covenants and conditions:
1. ProPerty: Seller agrees to sell and Purchaser agrees to purchase tract(s) ___________ sold as a total amount and/or tract(s) ____________ sold on a per acre basis with approximately _____________ total acres of real estate situated in La-fayette County, Missouri. Purchaser hereby acknowledges and understands that the Property is being sold on an “as is where is” basis. Purchaser further acknowledge that this agreement is not contingent upon financing and that failure to close this transaction on or before Tuesday, October 22, 2013 due to any delay caused by Purchaser shall constitute a forfeiture of the Earnest Money.
2. PurchaSe Price: Purchaser agrees to pay to the Seller the total sum of ___________________________________________________________ (the “purchase price”) subject to acreage determination by survey. Purchase price is figured from _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Upon execution of this agreement, the Purchaser will pay by check and not in cash _________________________________________________________ (which amount is equal to ten percent (10%) of the Purchase Price as Earnest Money made payable to and to be held in the escrow account of Mid-West Title Company as escrow agent, there under for delivery to the Seller at the time of closing or as otherwise provided for herein.
The balance of the Purchase Price shall be paid by Purchaser to the Seller at closing in cash or form of payment acceptable to the Seller.
3. titLe: Seller shall furnish Purchaser with an Owners Title Insurance Commitment (Title Commitment), issued by Mid-West Title Company . The Title Commitment shall commit the subject title company to issue Purchaser its standard owner’s policy in the amount of the purchase price, showing title to the Property in the name of the Seller. In the event that the Seller is unable to convey the Property in accordance with the terms of this agreement, Purchaser shall elect to either (a) take the Property encumbered with the objectionable exceptions to the title and waive any and all objections thereto without abate-ment of the Purchase Price, or (b) receive a refund of the Earnest Money, and upon such refund being made, this Agreement shall terminate and be of no further force and effect.
4. Survey: If survey is necessary, survey shall be provided at sellers expense a new survey reflecting the legal description, acreage and boundary lines for any Tract of the Property where there is no existing legal description or where new bound-aries are created by the divisions of Tracts at the Auction. Any need for a survey shall be determined at the sole discretion of the Seller. If a new survey is determined to be necessary by the Seller, the Purchase Price shall be adjusted to reflect any difference between the bid acreage and the surveyed acreage. Purchaser will then have a revised Purchase Price calculated by Multiplying the surveyed acreage by the actual Purchase Price per Acre indicated in Paragraph 2.
5. cLoSing and PoSSeSSion: The “Closing” shall take place on or before Tuesday, October 22, 2013 , at the office of Mid-West Title Company, 545 South HWY 13, Lexington, MO 64067 and at a time designated by the Seller and agreed upon by Purchaser. Concurrently with the Closing, Purchaser shall pay to the Seller the Purchase Price, less the Earnest Money as provided for herein. Upon full receipt of the entire Purchase Price by Seller, Seller shall deliver to Purchaser special warranty deeds from each selling entity conveying title in the property to the Purchaser. Purchaser shall pay the charge for recording the Deed. Seller and Purchaser agree to execute any real estate transfer declarations required by the state, county or munici-pality in which the Property is located. The Seller and Purchaser agree to provide and to execute such further documents as may be necessary or customary to close this Agreement (e.g., Seller Affidavit; FITPTA Affidavit; Organizational documents and closing statement) and equally for closing costs. Purchaser shall be entitled to possession of the property on the Closing date.
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6. caSuaLty: Seller will keep the Property and Improvements insured until closing. If the improvements on the property are substantially damaged or destroyed by fire or other casualty prior to closing, then Buyer will have the option of accepting all of the insurance proceeds and proceeding to close this Agreement, or terminating this Agreement. If this Agreement is terminated due to this paragraph then the earnest money will be returned to the Buyer.
7. warrantieS: Purchaser acknowledges that Purchaser has been given an opportunity for a full inspection of the prop-erty and related information and further acknowledges with respect to this agreement that Purchaser is satisfied in all re-spects with the condition of the Property and all matters pertaining thereto. Purchaser accepts the Property “as is” and in its present condition with Purchaser assuming risk thereof. Purchaser understands that Seller makes no warranty or represen-tation of any kind, either implied or expressed or arising by particular purpose of the Property or any portion thereof, and in no event shall Seller be liable for consequential damages. Purchaser acknowledges that Seller has not agreed to perform any work on or about the Property as a condition of Purchaser’s purchase of it.
8. mineraL rightS: One hundred percent (100%) of the mineral rights owned by Seller with respect to the Property, if any, shall be conveyed to Purchaser at Closing.
9. reaL eState taxeS and aSSeSSmentS: Real Estate taxes for the calendar year 2013 shall be prorated to the time of closing. Purchaser shall assume and pay real estate taxes for the Property for all periods thereafter.
10. deFauLt: If Purchaser fails to perform any obligation imposed by this Agreement, Seller may serve written notice of default upon Purchaser and if such default is not corrected within ten (10) days thereafter, then, at the option of the Seller, this Agreement shall terminate and the Seller shall be entitled to retain the Earnest Money paid hereunder as liquidated damages. The foregoing remedy in the event of default is not intended to be the exclusive remedy of Seller, and Seller shall have the right to seek any other remedies available at law or equity, including but not limited to specific performance. De-fault by Purchaser shall entitle Seller to court costs and reasonable attorney’s fees incurred in enforcing the provision of this Agreement.
In the event of failure of Seller to perform the obligations imposed by this Agreement, Purchaser’s sole remedy hereunder is to terminate this Agreement and receive a refund of the Earnest Money upon similar notice served upon Seller and similar expiration time period.
The Escrow Agent, upon receiving an affidavit from the non-defaulting party stating that this Agreement has been terminat-ed as provided herein, shall be entitled to rely upon such affidavit and shall deliver the earnest money to the non-defaulting party.
11. environmentaL: The Purchaser acknowledges that the Seller has not made and hereby disclaims any and all repre-sentations and warranties, either express or implied, regarding the environmental condition of the Property. The Purchaser shall rely upon its own independent investigation, inspection, inquiry, analysis, and due diligence to evacuate and ascertain the environmental condition of the Property. The Purchaser has been advised that the Property is being sold “as is, where is” and that Seller is not representing or warranting that the condition of the Property is in accordance or compliance with any past, present, or future federal, state or local environmental laws, regulations, requirements, or standards.
As a matter of corporate policy, Seller makes it a practice to expressly advise any purchaser that the improvements on the Property include materials, which may contain asbestos, and encourages Purchaser to investigate specifically whether asbes-tos containing materials exist on the Property.
12. ProviSionS reLating SPeciaLLy to SeLLer/truSt/ truSteeS/ executor and their reSPective SPeciaL circumStanceS: Trustee/Executor Disclaimer. Each fiduciary comprising Seller executes this instrument only in its representative capacity and shall not be bound or obligated hereunder except in such capacity. Purchaser ac-knowledges and agrees that this Agreement is made by such fiduciaries solely in their fiduciary capacity as described in the signatures affixed hereto, and that such fiduciaries shall not be liable for any breach or any failure to perform any obligation under this Agreement except from assets held in the fiduciary capacity described.
13. ProviSionS reLating to the auction comPany/ auctioneer/BroKerS/FinderS/agentS: (a) This Agreement is solely between Seller and Purchaser. Wheeler Auctions & Real Estate, L.L.C. (the “Auction Company”) and its licensed auctioneers are employed by the Seller. The Auction Company and its auctioneers shall not be liable for any
patent or latent defects or deficiencies existing in the Property, improvements or other appurtenant structures thereon, nor for any information provided to the Purchaser. The Purchaser acknowledges that it has conducted its own independent in-vestigations, inspections, inquiries and due diligence concerning the Property.
(b) Commission. Notwithstanding any other provisions of this Agreement, the right to commission, if any, payable to any agent representing either party to this Agreement shall not vest until the transaction is closed, and shall be payable only out of proceeds of closing and said agent shall have equal right to any portion of Earnest Money forfeitures.
14. irS 1031 tax exchange decLaration (optional):It is agreed between the purchaser(s) and seller(s) that a material part of the consideration to the Purchasers for purchasing is that the Purchaser has the option to qualify this transaction as part of a tax-deferred exchange under Section 1031 of the Internal Revenue Code of 1986 as amended. Sellers agree that Purchaser may assign this Agreement to an exchange inter-mediary of Purchasers choice. Purchaser agrees that any and all additional expense, if any, shall be borne by Purchaser and Sellers agree to fully cooperate to complete the exchange.
Seller hereunder desires to exchange, for other property of like kind and qualifying use within the meaning of Section 1031 of the Internal Revenue Code of 1986, as amended and the Regulations promulgated there under, fee title in the property which is the subject of this Contract. Seller expressly reserves the right to assign its rights, but not its obligations, hereunder to a Qualified Intermediary as provided in IRC Reg. 1.1031(k)-1(g)(4) on or before the closing date.
15. MISCELLANEOUS:(a) Jurisdiction. This agreement shall be construed in accordance with the laws of the State of Missouri. Any provision of this Agreement which is unenforceable or invalid, or the inclusion of which would affect the validity, legality, or enforcement of this Agreement shall be of no effect, but all the remaining provisions of the Agreement shall remain in full force and effect.
(b) Entire Agreement. This Agreement contains the entire agreement of the parties and no representations, warranties or agreements have been made by either of the parties except as set forth in this Agreement.
(c) Heirs, Successors and Assigns. This Agreement shall ensure to the benefit of and shall be binding upon the Seller and Purchaser and their respective heirs, successors, and permitted assigns, provided, however, that Purchaser may not assign its rights or obligations hereunder without the prior written consent of the Seller.
(d) Time is Of the Essence. The time for performance of the obligations of this Agreement is of the essence.
(e) Notice. All notices shall be in writing and shall be deemed to have been properly delivered as of the time of delivery if personally delivered or as of the time deposited in the mail systems if sent by United States certified mail, return receipt requested, and postage prepaid.
16. FSa/nrcS: Seller is obligated to maintain (if any) the current FSA Program and Basis on the above listed real estate. Buyer agrees to the division of FSA Program data as a percent of cropland acres per tract. Buyer assumes the responsibility of any and all FSA or NRCS Programs currently in place. Buyer will be required to maintain and comply with FSA regulations of the CRP contract.
17. Tenant Rights: Present tenant’s rights prevail if any.
18. SPeciaL agreementS (if any):______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
30 wheelerauctions.com
IN wITNESS wHEREOF, the parties have executed this Agreement in three counterparts, each of which shall be deemed an original instrument, as of the day, month and year first above written.
SeLLer: PurchaSer:
_______________________________ ___________________________________________
_______________________________ ___________________________________________
_______________________________ ___________________________________________
Address____________________________________
___________________________________________
city, State, Zip ______________________________
___________________________________________
Phone _____________________________________
Email _____________________________________
Date __________________
Lender Contact _____________________________
__________________________________________
titLe comPany inFormation:
Name Mid-West Title Co. - Craig WilliamsAddress 545 South 13 Highway, Lexington, MO 64067Phone 660-259-4631Email [email protected]