PROCEDURE:

Registration: Proper registration is required to bid. All bidders must provide name, address, phone number and email address to register. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Auctioneer reserves the right to refuse to register or admit Buyer at his/her sole discretion.
Bidding: If you are unable to bid Online or are unsure about the reliability of your internet connection, call the auctioneer and make alternative bidding arrangements by April 24^th.
FLAT BIDDING: THE BID YOU MAKE WILL BE IMEDIATELY POSTED. THIS IS NOT A MAX BID/EBAY-STYLE AUCTION.
The farm will be offered as 3 separate tracts, Online only.
Individual tract bidding begins Thursday, March 16, 2023 and will be available until 8:00 PM CST Tuesday, April 25, 2023, subject to bid extensions (Soft Close).
Combination tract bidding opens at 7:00 PM CST, Tuesday, April 25^th.
Bidding will be on a per tract basis with a minimum opening bid of $100,000 per tract, and thereafter minimum bids of $1000 per tract.

TERMS AND CONDITIONS:

NO BUYER'S PREMIUM.

SALE SUBJECT TO CONFIRMATION OF SELLER(S).

NO CONTINGENCIES: This Real Estate contract is not contingent on or subject to Buyer’s financing, appraisal, survey or inspections of any kind or any other contingencies as agreed to by bidders at registration prior to bidding.

ZONING AND EASEMENTS: Property is being sold subject to any and all easements of record. Property is subject to all state and local zoning ordinances.

REAL ESTATE TAXES: Pro-rated to day of closing.

SURVEY: None

MINERAL: Any mineral owned will transfer, if any.

CONTRACT AND DOWN PAYMENT: Contract for purchase to be signed within 24 hours of close of auction. A 10% down payment of the total contract purchase price will be due immediately after being declared the winning bidder. The down payment may be paid in the form of personal check, wire transfer, business check or cashier's check and received within 3 business days. Earnest check to be made to Buy A Farm Land & Auction Co. Trust Account. The balance of the contract purchase price is due at closing. Any stop payment order of a check or giving a check which is returned marked “insufficient funds,” shall be deemed by the parties to be evidence of fraud existing at the time the transaction was consummated and shall be construed by the parties as intent to defraud.

TITLE: Sellers shall furnish the Buyer(s) at Seller's expense marketable title in the form of Title Commitment, a proper deed conveying merchantable title to the real estate to the Buyer(s) and tax transfer stamps. Buyer will pay the deed recording and fees associated with mortgage/financing. Title company's closing fee will be split equally by Buyer and Seller. Title Insurance will be provided by DOMA, Mt. Vernon IL.

CLOSING: Closing shall occur within 90 days or as soon thereafter as applicable closing documents are completed. Seller shall pay for recording release from any mortgage. Buyer shall pay for recording the deed of conveyance from Seller and any mortgage title insurance charges. Any closing costs not herein provided for shall be borne by Buyer. Seller shall cause the Closing Statement to be delivered to Buyer at or before the closing.

POSSESSION: Possession will be given at closing subject to the CRP contract ending in October 2030 (Tract #2) and the current farm lease ending in December 2026 (Tracts #1 and #3). The 2023 CRP income will be pro-rated to day of closing, by FSA at time of payment. The 2023 farm lease income will be pro-rated to day of closing, at closing.

AGENCY: Buy A Farm Land & Auction Co LLC. is the Agent and Representative of the Seller.

The information is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed the owners or Buy A Farm Land & Auction Co. LLC. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by the Seller(s) or Buy A Farm Land & Auction Co LLC pertaining to this property. Real estate is being sold "As Is, Where Is".

BROKER: Jamie Keller, Managing Broker, 618-713-7677

AUCTIONEER: Wayne Keller, IL Lic #441.002475; 618-407-1679

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