AUCTION +/- 669 Acres, 10 Tracts, Fayette County, IL July 28th

Property Description

LAND AUCTION
+/- 669 Acres, 10 Tracts
Fayette County, IL.
Loudon, Avena, Otega, and Wheatland TWPs.

Auction Time & Date:
Thursday, 3:00 PM, July 28th

Auction Location:
Carriage House Event Center
8 West Carriage Lane, Altamont, IL 62411

Buyer receives landowners share of the 2022 crop.
1/3 owner, 2/3 tenant crop lease.
Oil Production Revenue
Mature Marketable Timber
Excellent Hunting and Recreational Opportunities

T1, T2, T6, T8, T9 and T10 are currently being surveyed. The cost of the survey shall be split evenly between buyer and seller.

T1:  +/- 45.28 Surveyed Acres, mature marketable timber.  Oil production revenue.
PIN 10-08-27-100-008 and a portion of PIN# 10-08-27-200-00.
SEC 27-T8N-R3E LOUDON TWP. Fayette County, IL.
Estimated Real Estate Tax:  $92.00.
Road frontage on CR2600 N and 20’ easement through T2. Refer to map.
See attached plat of survey.
Buyers portion of survey cost = $437.50

T2:  +/- 36.01 Surveyed Acres, +/- 33 tillable acres, 99.2 PI. Oil production revenue.
Part of PIN 10-08-27-200-005; SEC 27-T8N-R3E.  LOUDON TWP. Fayette County, IL
Real Estate Tax:  $362.00 = $10.65 per acre.
Subject to a 20’ easement for T1 over the existing oil lease road shown as a yellow dashed line. Refer to map.
Buyers portion of survey cost = $437.50

T3: +/- 40 Acres, 100% tillable, 99.4 PI.
PIN 01-12-03-300-003; SEC 3-T7N-R3E, AVENA TWP. Fayette County, IL
Real Estate Tax: $517.08.

T4: +/- 40 Acres, +/- 39.5 tillable acres, 99.2 PI.
PIN 01-12-09-200-002; SEC 9-T7N-R3E, AVENA TWP. Fayette County, IL
Real Estate Tax: $488.58.

T5: +/- 80 Acres, +/- 78.50 wooded acres, +/- 1.5 tillable acres.
Mature marketable timber, FORESTRY PLAN
PIN 01-12-09-200-003; SEC 9-T7-R3E, AVENA TWP. Fayette County, IL
Real Estate Tax: $200.24.

T6: +/- 80.58 Surveyed Acres, +/- 75.75 tillable acres, 101.5 PI. Oil production revenue, see attached oil revenue doc.
PIN 11-15-12-400-002; SEC 12-T6-R2E, OTEGO TWP. Fayette County, IL
Real Estate Tax: $1,113.72.
Buyers portion of survey, $500.00 due at closing.

T7: +/- 189 Acres, +/- 26.69 wooded acres, +/- 162.31 tillable acres, 106.4 PI.
PIN 19-16-07-300-001; SEC 7-T6N-R3E, WHEATLAND TWP. Fayette County, IL
Real Estate Tax: $2,614.28. Oil production revenue, see attached oil revenue doc.

T8: +/- 36.62 Acres, +/- 6 wooded acres, +/- 30 tillable acres, 106.2 PI
PIN 11-15-13-200-002; SEC 13-T6N-R2E, OTEGO TWP. Fayette County, IL
Real Estate Tax: $511.24. Oil production revenue, see attached oil revenue doc.
Buyers portion of survey, $500.00 due at closing.

T9: +/- 73.62 SURVEYED ACRES, +/- 9.62 wooded acres, +/- 64 tillable acres, 101.2 PI
FORESTRY PLAN, Part of PIN 11-15-23-100-001; SEC 23-T6N-R2E, OTEGO TOWNSHIP, Fayette County, IL
Real Estate Tax: $767.25 estimated.
T9 is currently being surveyed.  Buyers portion of the survey, $500.00 due at closing

T10: +/- 38.61 SURVEYED ACRES, +/- 25.36 wooded acres, +/- 13.25 tillable acres, 99.9 PI
FORESTRY PLAN, Part of PIN 11-15-23-100-001; SEC 23-T6N-R2E, OTEGO TOWNSHIP, Fayette County, IL
Real Estate Tax: $381.15 estimated.
T10 access is off of CR 1650.
T10 is currently being surveyed.  Buyers portion of the survey, $500.00 due at closing

Land Broker and Auctioneer
Travis Selby 217.304.1686
IL Lic.# 441001485

AUCTION TERMS AND CONDITIONS:

Procedure: The farm will be offered as 10 individual tracts T1 - T10. Combinations will be offered for T3-T4 and T6-T7. The auction will be conducted publicly with online bidding available for pre-registered online bidders. Bidding shall remain open until the auctioneer announces bidding closed at the live event. Seller reserves the right to accept or reject any and/or all bids.

Online Bidding Procedure:  Online pre-bidding begins on Monday, July 25th, 2022, at 8:00 AM closing Thursday, July 28th, 2022, at the close of live the event. All bids on the tracts will be visible online; the identity of bidders is confidential.  Server and Software Technical Issues: In the event there are technical difficulties related to the server, software, or any other online auction-related technologies, Ag Exchange reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Ag Exchange shall be held responsible for a missed bid or the failure of the software to function properly for any reason. E-mail notification will be sent to registered bidders with updated information as deemed necessary by Ag Exchange.

BIDDING IS NOT CONDITIONAL UPON FINANCING.

Acceptance of Bid Prices/Contracts: All successful bidders will sign a sale contract at the auction site immediately following the close of the bidding.

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 cashier’s check. The balance of the contract purchase price is due at closing.

Closing: Closing shall take place 33 days after auction day, or as soon thereafter as applicable closing documents are completed. The anticipated closing date shall be Tuesday, August 30th.

Possession: Possession will be given at closing subject to the 2022, 1/3 owner, 2/3 farmer crop lease. Buyer shall receive the owner’s 1/3 share of the 2022 crop.

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 seller’s option and sufficient for providing title insurance.
Final surveyed acreage amounts, and Buyers’ cost are:
T1: 45.28 Acres. Buyer’s survey cost: $437.50 due at closing.
T2: 36.01 Acres. Buyer’s survey cost: $437.50 due at closing.
T6: 80.58 Acres. Buyer’s survey cost: $500.00 due at closing.
T8: 36.62 Acres. Buyer’s survey cost: $500.00 due at closing.
T9: 73.62 Acres. Buyer’s survey cost: $500.00 due at closing.
T10: 38.61 Acres. Buyer’s survey cost: $500.00 due at closing.

Title: Sellers shall provide an Owner’s Policy of Title Insurance in the amount of the purchase price and shall execute a Trustee’s deed conveying to the Buyer(s). Sellers shall pay the premium for the Title Insurance Policy and the seller’s 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: Buyer will assume and pay 100% of the 2022 real estate tax due and payable in 2023.

Mineral Rights: The sale of the property shall include all mineral rights owned by the seller.

Agency: Ag Exchange 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 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.
SELLERS: Elizabeth Lewis and Michael Lewis, Co-Trustees of the Jordan D. Lewis, Jr. Living Trust