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10 AM on April 17th- In person and online bidding.
Charles & Mary Bell/ Enlow Family Land Auction Wednesday, April 17th, 2024- 10 A.M. In-Person and Online Auction Selling 137.17 Acres +/- in Barnett Twp., DeWitt County, IL 50/50 crop share lease, Ron Ferguson Tenant- Possession given at closing within 30 days of the auction. Farming possession for 2025 will be given after this years crop is out. Offering two tracts at Public Auction- these will be offered as choice and sell per acre; the buyer will have the option to take 59.17 or 78 or the entire property of 137.17 Acres. Auction Date & Location: Martin Auction Services, L.L.C. ("Auctioneer") will offer the property for sale at public auction, the property is listed in this brochure. The Auctioneer will represent the Seller at this event. This auction will take place on Wednesday, April 17th at 10 A.M. at Martin Auction Center, 9515 Texas Church Rd., Clinton, IL. Auction registration will begin at 9 a.m. Bidders unknown to the Auction Company will be required to provide a Bank Letter of Guarantee in the amount of $50,000 to be registered to bid. Bidder Registration: All bidders will be required to register to bid at the auction. We will require online bidders to provide a Bank Letter of Guarantee by April 16th for $50,000.00 in order to accept your bids. Please contact our office for further information regarding this. Auction Procedures: Conduct of the auction will be the sole discretion of the Auctioneer. This property will be bid on "by the acre", the Auctioneer has the right to reject any bids and will be the final authority as to the bidding increments. Auctioneer reserves the right and authority to eject any person from the auction for any reasonable grounds deemed appropriate by the Auctioneer. Announcements made by the Auctioneer at the auction will supersede any prior written or oral information. Real Estate Sales Contract: The property is offered for sale on and subject to the terms and conditions contained in the Real Estate Sales Contract. A copy of the contract may be found on-line at www.martinauction.com or one may be obtained from the Auctioneer prior to the auction for review. The terms of the Sales Contract supersede any conflicting terms of sale contained herein. Bidders and their attorney should review the sales contract prior to the auction. Winning Bidder: Each winning bidder will be required to a.) place a non-refundable down-payment equal to 10% of the total purchase price of the land in the form of a check to the Auctioneer, b.) Enter into a Sales Contract with the seller for the prospective property. Closing of the auction will occur within 30 days of the auction date, unless otherwise mutually agreed upon by the Seller and Bidder. A title policy will be provided to the successful bidder at closing. See the contract for Possession details. c.) Seller will pay the 2023 taxes; the buyer will assume all taxes thereafter. Seller will provide a title policy for the property. d.) Buyer will share in all crop expenses 50/50 and will benefit from owning 50% of the crop from the current crop share lease. Ron Ferguson is the current farmer on the property and has been for the past 20 years. Ron does have interest in continuing to farm this property if a buyer needs a farmer to continue. Bidders will be required to reimburse the seller for seed ($8,098.42) and fertilizer ($4,021.23) at closing. e.) Both properties (tract 1 and tract 2) are incorporated into the wind lease; should these properties be purchased as separate tracts, this wind lease will be amended to properly reflect the appropriate payments for each property. Last years payments were approximately $3,456 quarterly or approximately $13,824 in total. (per the Seller) Financing: This property is not contingent upon the Purchaser's ability to obtain financing. Possession: 2025 farming rights are given. Additional Information: Supporting property information is available from the Auction Company prior to the Auction. All data is believed to be correct but is subject to bidder verification. All items are subject to the terms found within the Real Estate Contract. Information contained within this brochure, any bidder information packages or the website has been obtained from the Seller and other sources deemed to be reliable. However, neither the Seller, Auctioneer nor their agents make any representations or warranties as to the accuracy or completeness of this information. Each prospective bidder must undertake and rely on his or her own investigation of the property. Exclusion of Property: Martin Auction Services, L.L.C. and the Seller reserves the right to withdraw any property before or during the auction, and to sell any property prior to the auction without notice. Additional Conditions: Seller and Auctioneer reserve the absolute right in their sole discretion to amend these procedures, terms, and conditions at or before the auction. To the extent there is any conflict between the provisions of these procedures, terms, and conditions as set forth herein and in any Sales Contract, the terms of the Contract shall govern. Auctioneer has the right, in his sole discretion to postpone, or cancel the auction in whole or in part and to modify or add any terms and conditions of the auction and to announce such modifications or additional terms and conditions prior to or during the auction. All bidders acknowledge that the Auctioneer does NOT have an ownership interest in the property and therefore all bidders acknowledge that the Auctioneer is NOT responsible for any actions or inactions by the Seller regarding the Sellers obligations under the Sales Contract. Except as expressly stated in this document, these procedures, terms and conditions do not create any legal obligations on auctioneer or the seller. If auctioneer or the seller fails to comply with any of these procedures, terms and conditions for any reason, neither the auctioneer nor the seller shall have any liability or obligation whatsoever. These procedures, terms and conditions nevertheless are binding upon and must be complied with by any person or entity submitting a bid. The Seller will be bound only by the provisions of the actual Sales Contract as and when executed and delivered by each party thereto. All attached images and maps are not to scale and should not be relied upon for any true measurements or boundary lines. P.I Chart shows approximate acres and approximate weighted productivity index as described by the University of Illinois. All maps are not to scale, any information used is considered to be correct, however, it is 100% up to the bidder or buyer to make their own inspections and verify any data presented.