UNDER CONTRACT
FARM LAND AUCTION, Logan County IL
10 AM July 30th.
Auction will be held on site at T1.
Farm Address: 1723 1200th St. Beason, IL. 62512
+/- 158.54 Acres offered in 2 Tracts
Part of the NW 1/4 of section 24, T19N R2W Chester TWP. Logan County IL.
Highly Productive, Class A Soils.
Ipava and Sable Soils.
Buyer receives owners share of the 2020 crop proceeds.
Buyer will assume the owners 50% share crop agreement obligation for 2020 crop year.
Logan County, IL Parcel ID #: 07-024-003-20 (158.54 Acres)
2019 payable 2020 tax: $7,371.52
T1: +/- 78.54 Acres, 140.2 PI
T2: +/- 80.00 Acres, 138.7 PI
The center-line of the existing driveway will be the division line between T1 and T2.
T1 and T2 are subject to a 20 easement over the existing driveway for ingress and egress to the existing farm house. T1 is subject to a 25 easement over the west 25 ft of the NW of the NW quarter of section 24 and the South 30 ft of the SW quarter of the NW quarter of section 24, T19N R2W Chester TWP. Logan County IL.
Outbuildings are selling “as is, where is” and “in present condition.”
Three 3,500-bushel grain bins and items stored in the outbuildings are property of the current farm tenant to be removed from the premises on or before November 30th, 2020.
The farm house tract consisting of .69 acres is not included in the sale. Wooden stakes with orange ribbon are placed on the approximate corners of said .69 acres.
Auction terms and conditions:
Property will be offered in 2 individual tracts and then combined and offered as 1 complete tract totaling +/- 158.84 acres. Bidding will remain open until auctioneer announces, bidding closed.
T1: +/- 78.54 Acres
T2: +/- 80 Acres
Combination of T1 and T2 = 158.54 Acres
YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.
BIDS WILL BE TAKEN ON A PER ACRE BASIS.
Acceptance of Bid Prices/Contracts: All successful bidders will sign a sale contract at the auction site immediately following the close of the bidding. Copies of such contracts are available for review at the office of the auctioneer.
Down Payment: A 10% earnest money deposit of the total contract purchase price will be due immediately after being declared the buyer. The down payment may be paid in the form of a personal check, business check, or cashiers check. The balance of the contract purchase price is due at closing.
Closing: Closing shall take place 30 days after auction day, or as soon thereafter as applicable closing documents are completed. Anticipated closing date is on or before August 31st, 2020.
Possession: Possession will be given at closing subject to the existing 2020 crop lease. The buyer assumes the owners 50% share crop agreement obligation for 2020 crop year. Three 3,500-bushel grain bins and items stored in the outbuildings are property of the current farm tenant to be removed from the premises on or before November 30th, 2020.
Title: Sellers shall provide an Owners Policy of Title Insurance in the amount of the purchase price and shall execute a warranty deed conveying to the buyer(s). Sellers shall pay the premium for the Title Insurance Policy and the sellers search charges. Commitments for Title Insurance will be available for review at the office of the auctioneer and at the auction site. Bidders shall be deemed to have reviewed and approved the Title Commitments by submitting bids.
Real Estate Taxes and Assessments: Seller will assume and pay all 2019 real estate property taxes payable in 2020. Buyer will assume and pay all 2020 real estate property tax payable in 2021 and beyond.
Survey: A new survey shall be provided where there is no existing legal description. Any need for a new survey shall be determined solely by the seller. The cost of a new survey will be split equally between buyer and seller. The type of survey performed shall be at the sellers option and sufficient for providing title insurance. In the event the property sells in 2 tracts, the final purchase price will be the hammer bid price times the final surveyed acres. In the event the farm sells in combination the farm will transfer per deeded acre and a survey will not be required. Bids will be taken on a per acre basis.
Mineral Rights: The sale of the property shall include all mineral rights owned by the seller, if any.
Agency: Ag Exchange Inc. and its 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 sales contract.
ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.
The property is being sold on an as is basis, and no warranty or representation either expressed or implied, concerning the condition of the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning this property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the sellers or the auction company. All sketches and dimensions in this brochure are approximate. Photographs are used for illustrative purposes only. Conduct at the auction and increments of the bidding are at the discretion of the auctioneer. The sellers and the auction company reserve the right to preclude any person from bidding and to remove any person from the auction if there is any question as to the persons credentials, fitness, conduct, etc. All decisions of the auctioneer are final.
Seller: Bejona and Coady Enterprises LLC
Visit WWW.AGEXCHANGE.COM
for detailed information
Or Call Auctioneer Travis Selby
217.304.1686
Travis Selby Designated Agent / Auctioneer # 441.001485
