Land Auction | Tuesday, February 25, 2020 – 10 AM Central
Edgar County, IL
254.86 +/- Acres Offered in 2 Tracts
Highly Productive Farmland in Kansas Township
Tuesday, February 25, 2020 – 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: Kansas, IL: From intersection of IL Highway 49 & IL Highway 16, travel north 2 miles on IL Highway 49 to County Road 800N, travel east 2 miles on County Road 800E to Tract 1, then travel east 1/2 mile to Tract 2. Watch for signs.
Tract 1: 94.86 +/- acres of highly productive farmland located in Section 18 of Kansas Township. According to Edgar County FSA Office this tract consists of 93.13 cropland acres classified NHEL. Improved with two grain bins, a 20,000 bushel bin and a 9,000 bushel bin, along with a wooden barn. The Productivity Index (PI) for the soils on this tract is 138.6.
Tract 2: 160 +/- acres of outstanding farmland located in Section 17 of Kansas Township. According to Edgar County FSA Office this tract consists of 152.11 total cropland acres with 41.84 acres classified NHEL and 105.11 acres classified HEL. The Productivity Index (PI) for the soils on this tract is 137.8.
Tenant Rights: Tenant rights are open for the 2020 crop year.
Real Estate Taxes: The 2018 real estate taxes paid in 2019 were, Tracts 1: $3,427.66 or $36.13/acre and Tract 2: $4,899.90 or $30.62/acre.
Auction Terms and Conditions
Auction Procedure: This property will be offered in 2 individual tracts on a per acre basis. Bidders will be able to bid on any tract at several different times during the auction resulting in highest total sale price, subject to the seller’s acceptance.
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 remaining balance will be due on or before March 25, 2020 at the closing with delivery of deed. Property is being sold subject to any easements or right of ways of public record. Buyer(s) will receive full possession at the time of closing. 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.
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(s) is subject to the Seller’s acceptance or rejection.
Possession: Buyer(s) will receive full possession at the time of closing.
Title: Sellers will offer title insurance on the property being offered in the auction. The Sellers shall pay any search and closing costs that are customarily associated for a seller. The Buyer(s) shall pay closing costs that are customarily associated with a real estate purchase. Upon full receipt of the entire purchase price by Sellers, Sellers shall deliver to Buyer(s) a Deed conveying title in and to the property to the Buyer(s).
Real Estate Taxes: The Sellers shall give the Buyer(s) a credit at the time of closing based upon the most recently ascertainable tax figure available at closing. Buyer(s) will assume all real estate taxes payable in 2020 and thereafter.
Mineral Rights: Buyer(s) will receive mineral rights owned by the seller.
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.
Seller: Phipps Family Farms, LLC & Julia A. Lund Estate
MOSS AUCTION TEAM, LLC
Paris, IL 217-465-4545
Matthew Moss IL lic.#440.000148