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Colby, Kansas
Posted 3 weeks ago
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   TRACT 1: Surface rights only in SE/4 of Section 24-30-40

   TRACT 2: Mineral rights & royalty production in & under SE/4 24-30-40


   TRACT 3: NE/4 of Section 32-25-39


MANNER OF SALE:  This property will be offered in 3 individual tracts only.  THERE WILL BE NO COMBINATION OF ANY TRACTS. Auction procedure and increments of bidding are at the discretion of the auction company.

TERMS:  10% down day of sale, with the balance to be paid on or before June 25, 2021, or upon such terms as may be acceptable to the Sellers.  Personal and corporate checks are acceptable for the down payment with the final payment to be made in certified funds. All funds will be held by an identified title/escrow company.  Bidding is not contingent upon financing.  Financing, if necessary, needs to be arranged and approved prior to the auction. Announcements made day of sale take precedence over printed material and previously made oral statements.

CROPS: Seller will retain the landlord’s share of the 2021 wheat crop and Buyer will receive the landlord’s share of the 2021 milo crop, if any.

FSA INFORMATION: Any future FSA payments will follow the crops and will be paid pursuant to FSA regulations. See chart below for FSA cropland acres, base acres and yields

MINERAL RIGHTS:  All of the Seller’s interest will transfer to the Buyers on Tracts 2 and 3.  Tract 1 is surface rights only.

CLOSING:  On or before June 25, 2021.

POSSESSION:  Possession will be the date of closing, subject to the tenants’ rights on the 2021 crops.

REAL ESTATE TAXES:  Sellers will pay taxes for 2020 and prior years.  Taxes for 2021 will be prorated to the date of closing.  See chart for 2020 tax amounts.

ACCEPTANCE OF BIDS:  The successful bidders will be required to enter into a purchase contract immediately following the auction.  Copies of the contract will be available from the auction company prior to the sale.

ACREAGES:  Acreage figures are considered to be approximate and are from reliable sources based on (USDA) FSA figures.  All FSA information is subject to change, including but not limited to the number of cropland acres, grass acres, base acreages and yields.  FSA acres may not be the same as deeded acres or county appraiser acres.  The numbers of acres are not guaranteed by title insurance.

EVIDENCE OF TITLE:  Sellers will provide title insurance to the Buyers in the amount of the purchase price with the premium to be paid one-half by the Buyers and one-half by the Sellers.  Title evidence will be provided on sale day.

INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property.  Neither Sellers or Farm & Ranch Realty, Inc., its agents or representatives, are making any warranties about the property, either expressed or implied.  

EASEMENTS:  This sale is subject to all rights-of-way and easements, whether recorded or not, and to oil and gas leases of record, if any.

AGENCY:  Farm & Ranch Realty, Inc., its agents and representatives, are the Exclusive Agents of the Seller.

Farm & Ranch Realty, Inc.
Donald L. Hazlett, Broker


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