Land Auction | Tuesday, February 21, 2017 at 10 AM Central
Vermillion County, IN
101 +/- Acres of Productive Tillable Farmland, Offered in 2 Tracts
Tuesday, February 21, 2017 – 10 AM Central
Auction location: Edgar County 4-H Building, 319 E. Elliot St., Paris, IL.
Directions to Auction Site: From the Courthouse Square in downtown Paris, travel north on Main St./IL Hwy. 1 for 12 blocks to Elliot St., turn east on Elliot St., the 4-H Building is on the north side of Elliot St.
Directions to Property: From Dana, IN at intersection of US Hwy. 36 & IN Rt. 71, travel south 2.5 miles on IN Rt. 71 to CR 850N, travel west 2 miles on CR 850N to property on the north side of road. Watch for signs.
Tract 1: 50.5 +/- acres of highly productive farmland located in Section 9 of Helt-West Part Twp.. According to USDA FSA Office this tract consists of 50.01 tillable acres classified NHEL with 41.2 acres corn base, 8.8 acres soybean base; PLC-yield of 158 for corn, 43 for soybeans. This tract’s west boundary is situated on the IN/IL state line. In the spring of 2016, a pattern tile system was installed over the north two-thirds of this tract.
Tract 2: 50.5 +/- acres with excellent productivity located in Section 9 of Helt-West Part Twp. According to USDA FSA Office this tract consists of 48.89 tillable acres classified NHEL with 41acres corn base, 7.3 acres soybean base; PLC-yield of 158 for corn, 43 for soybeans. This tract has 1.2 acres enrolled in CRP waterways until Sept. 30, 2018 with an annual payment of $188.83.
Both Tracts Production/Yield History
Property Inspection: Individual on-site inspections by prospective buyers is permitted via foot traffic. Please no motored vehicles.
Tenant Rights: Tenant rights are open for the 2017 crop year.
Real Estate Taxes: The real estate taxes paid in 2016 were as follows: Tract 1 $2,462.00 and Tract 2 $2,504.00.
Auction Terms and Conditions
Auction Procedure: This property will be offered in 2 tracts via the “bidder’s choice & privilege” auction system. The high bidder in the first round of bidding can take their choice of one or both tracts. If a tract remains after the first round of bidding, round two bidding begins, whereby the high bidder will take the remaining tract. All bidding will be done on a per acre basis. The final bid price(s) is subject to the Seller’s acceptance or rejection.
Down Payment: Ten percent (10%) down payment on the day of the auction upon signing a purchase agreement(s) immediately following the close of the auction. The down payment can be paid by personal check, corporate check or cashier’s check. The remainder of the purchase price is payable in cash at the closing with delivery of deed. Property is being sold subject to any easements or right of ways of public record. Bidders should keep in mind that your bidding is not conditional to financing, so make certain that you have arranged financing if you need it.
Closing: Closing will take place on or before March 21, 2017.
Possession: Buyer(s) will receive full possession at the time of closing.
Reimbursements: The Buyer(s) shall reimburse the Seller’s and/or the Seller’s farm tenant for any fall fertilizer or chemical expenses incurred in the fall of 2016 in preparation for the 2017 crop year.
Acceptance of bid prices: The successful bidder(s) will be required to sign purchase agreement(s) at the auction site immediately following the close of the auction. The final bid price is subject to the Seller’s acceptance or rejection.
Survey: The subject properties have existing legal descriptions that can be used in their transfer. Therefore, the Sellers will not be providing a survey. You will be bidding and closing on the tax bill acreages.
Title: Seller will offer title insurance on the property being offered in the auction.
Real Estate Taxes: The Seller shall give the Buyer(s) a credit at the time of closing for the 2015 taxes paid in 2016, based upon the most recently ascertainable tax figures available at closing. Buyer(s) will assume all real estate taxes payable in 2017 and thereafter.
Mineral Rights: Buyer(s) will receive mineral rights owned by the seller.
Legal Questions: Legal questions may be directed to attorney Rich Kash of Fruin & Kash Attorneys at Law in Paris, IL. 217-465-4196
Agency: Moss Auction Team and their staff are exclusive agents for the Seller.
Auction Company Note: Announcements on Sale day take precedence over printed material or any other oral statement made.
Disclaimer and Absence of Warranties: The property is being sold on an “as is, where is, with all faults” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. Each potential buyer is responsible for conducting his or her own independent inspections, investigations and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. The auction procedure, conduct, and bid increments are at the direction and discretion of the Auctioneer. The Seller and the Auctioneer reserve the right to preclude any persons from bidding if there is any question as to the person’s credentials, fitness, etc. Auctioneer has final decision on all matters pertaining to this auction.
Sellers: David A. Barrett, Jacob D. Barrett and James Taylor & Evelyn Taylor Martial Trust-Edith T. Jobe-Trustee
MOSS AUCTION TEAM, LLC
Paris, IL 217-465-4545
Matthew Moss IL lic.#440.000148