Procedure: The property will be offered as a single tract in a virtual online auction format. Bidding and livestream viewing will be available at WWW.Hiattland.com. Bidding will be on a dollars per acre basis and the final purchase price will be determined by multiplying the high bid by the 111.3 acres subject to adjustment based on final survey. Registration: All bidders are required to register at WWW.Hiattland.com prior to the start of bidding. Once the online registration form is filled out, it will be automatically sent to Hiatt Farmland Services for approval to allow bidding. Auction company may request a letter of recommendation from prospective bidder’s financial institution stating funds are available for the 10% deposit and that bidder has the financial capacity for final purchase.
Acceptance of Bid Prices: The successful high bidder will enter into a Contract to Purchase immediately following the close of bidding for presentation to the seller. Final bid price is subject to approval or rejection by the seller. Upon the close of the auction the winning bidder will either sign the Contract to Purchase in DocuSign or be forwarded via email or fax a contract to purchase. A signed copy of the contract must be returned and received by Hiatt Farmland Services on or before 5:00 o'clock. P.M. CDT, Tuesday October 26 2020 (faxed to 217-356-8261 or scanned and emailed to Russ@hiattland. Com.
Down Payment: A 10% non-refundable down payment of the total contract purchase price will be due within 24 hours of the close of the auction from the winning bidder. The down payment may be paid in the form of a wire transfer, personal check, business check or cashier's check. Should the winning bidder not be approved by the Seller, the down payment shall be returned to the bidder as soon as practicable. The balance of the contract purchase price is due in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.
Closing: The closing shall take place on or before Tuesday, November 30 2021 Possession: Possession will be given at closing subject to the remaining rights of the current tenant under the 2021 crop lease, which expires on February 28 2022.
Title: Seller will provide a proper deed conveying merchantable title to the real estate to the successful buyer free and clear of liens.
Real estate taxes and assessment: The 2021 calendar year taxes due and payable in 2022 shall be paid by the seller in the form of a credit at closing. The most recent tax figures available will be used to determine the amount of credit. The 2022 calendar year taxes and beyond will be the responsibility of the buyer(s).
Survey: A survey of the farm will be available upon completion. If the survey is not completed prior to the auction, the bidding will take place on the stated acres of 111.3 acres and the purchase price shall be adjusted up or down based on the actual acres surveyed using the successful bidders per acre value.
Mineral rights: The sale shall include any and all mineral rights currently owned by the seller, if any. Deeds show that excepted out the coal and minerals and right to mine and remove the same.
Acreages: All acreages are approximate and have been estimated based on current legal descriptions, FSA records and aerial mapping software. Actual acres shall be determined by survey.
Easements and leases: The sale is subject to any and all easements and leases of record.
Disclaimer: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the agreement to purchase. 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 the Seller or Hiatt Farmland Services. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the 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 Seller or Hiatt Farmland Services. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the final round of bidding and increments of bidding are at the discretion and direction of the seller's agent. The seller and Hiatt Farmland Services reserve the right to preclude any person from bidding If there is any question as to the persons credentials, fitness, etc. Under no circumstances shall bidder have any kind of claim against Hiatt Farmland Services or anyone else if the Internet service fails to work correctly before or during the auction.
Agency: Hiatt Farmland Services and its representatives are exclusive agents of the seller.
Seller: William J Ashley, Trustee for the Emma Lou Ashley trust.