Curt Marshall, Terry Zimmer, Michael Hansen Todd Kavouras & Brian Rose of United Country - Crossroads Auction & Realty of Salina, Kansas are offering at public auction 157.84± Acres of Farmland in Ottawa County, Kansas. This land is located 4.5-miles North of Minneapolis, Kansas. This land is 100% FSA Cropland Acres. All Seller owned Mineral Rights will be conveyed to the Buyer at closing. This land is owned by the Trace & Eric Kriegh Shares of the Roy M. Kriegh Jr. Trust. This land is tenant-farmed by Mr. Brenton Kindall and the Tenant agrees to vacate the portion of the property currently planted to Soybeans after the Soybean Harvest in the fall of 2021. To the portion that will be planted to wheat, the Tenant agrees to vacate as of August 1st, 2022 or after the 2022 Wheat Harvest; whichever comes first. This property will sell subject to seller's confirmation.
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AUCTION DATE: Thursday, October 28th, 2021 at 7:00pm CDT
AUCTION LOCATION: Golden Wheel Senior Center at 114 S. Concord St. in Minneapolis, KS 67467
SELLERS: Trace & Eric Kriegh Shares of the Roy M. Kriegh Jr. Trust
LEGAL ADDRESS: The Northwest Quarter (NW/4) of Section Seven (7), Township Ten (10) South, Range Three (3) West of the 6th P.M., Ottawa County, Kansas
FSA BASES / YIELDS:
TAXES: 2020 Taxes were $2,877.10
DIRECTIONS: From the town of Minneapolis, drive north on N. 120th Road for 4.5-miles until you see the Subject Property on the East Side of the road.
TERMS AND CONDITIONS OF SALE:
AUCTIONEERS NOTE: The Tenant has agreed to vacate the portion of the property currently planted to Soybeans after the Soybean Harvest in the fall of 2021. To the portion that will be planted to wheat, the Tenant has agreed to vacate as of August 1st, 2022 or after the 2022 Wheat Harvest; whichever comes first. This property will sell subject to seller's confirmation.
RESTRICTIONS: Subject only to (1) all City, County, and State laws, ordinances and regulations and (2) any easements, encumbrances, and restrictions applicable to the Property. Seller is placing no restrictions on the property.
UTILITIES: United Country - Crossroads Auction & Realty, nor the seller guarantees the availability of utilities, public or private. This consists of but is not limited to: wells, septic tanks, access to public utilities or any hookup fees therewith. Confirmation of utility availability is the bidder's sole responsibility.
EARNEST DEPOSIT: Earnest Money in the amount of 10% of the Purchase Price is due on Auction Day and upon signing the Purchase Contract. The deposit can be paid in the form of Personal or Business Check, Cash, Cashier Check. Your deposit is Non-Refundable.
TAXES: Seller shall pay 2020 taxes and all prior years. 2021 taxes will be pro-rated to the date of closing.
TITLE/CLOSING COSTS: Seller and Buyer shall share equally in the cost of owner's title insurance and escrow closing. A Preliminary Title Policy has been prepared by Scheibeler's, LLC of Minneapolis, Kansas and will be updated with Buyer information prior to closing. Buyer is responsible for cost of lender's policy.
TITLE EVIDENCE/DEED: Seller will deliver to Buyer an insurable deed for the Property at time of closing, conveying clear and marketable title of surface rights to said Property, free of all encumbrances, liens and judgment, except for those lawful conveyances and restrictions that exist on record before the date of the auction, as noted in the title insurance commitment.
MINERALS: Minerals are believed to be intact; all Seller-owned minerals shall be conveyed to the Buyer at closing.
PROPERTY SOLD "AS IS, WHERE IS, WITH ALL FAULTS" WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND: The real property shall be sold subject to conditions, restriction, right-of-way easements, and reservations; if any, of record, filed and untitled mechanic's and material men's liens; if any, and all other matters of record taking priority, subject to the rights; if any, of tenants-in-possession, and further subject to all conditions announced at the safe; and confirmation of the seller. Announcements made day of auction take precedence over previously printed material and oral statements.
FOR THE LIVE AUCTION: Bidders must present photo identification in order to obtain a Bidder's Number. The high bidder will execute a Contract for Sale of Real Estate and provide a binding deposit of 10% of the Purchase Price.
CLOSING: Buyer must close sale of real property on or before Monday, November 29th, 2021. TIME IS OF THE ESSENCE. The entire purchase price must be paid by Cashier/Certified check or wired funds at closing. No purchase is contingent on financing. Buyer is entitled to a deed for property upon full payment. Buyers should have all tests and inspections completed prior to the date of the auction. Only the Purchase Contract shall set forth Seller's obligations to the successful Bidder.
ADDITION OR WITHDRAWAL FROM SALE; CONDITION OF SALE: All bids are subject to Seller approval and the tracts are being offered for sale with that reservation. The Auctioneer reserves the right to cancel the auction up to the time prior to the commencement of bidding. If a subsequent survey by the Buyer shows a greater or lesser number of acres or square footage this will not affect the purchase or purchase price.
AGENCY: The Broker/Auctioneer is acting as agent for the Seller only. During bidding, the Auctioneer has the right to reject any raise that in his opinion is not commensurate with the property value. In the event of any dispute after the sale, United Country - Crossroads Auction & Realty's record of final sale shall be conclusive. All information and materials provided by Auctioneer is subject to inspection by all appropriate parties and the Auctioneer assumes no liability for its accuracy, errors, or omissions nor its agents, the Seller or its agents. Prospective bidders should independently verify any information being materially relied upon in making a purchasing decision.
LIQUIDATED DAMAGES: Buyer will forfeit all of their deposit if they cannot close within the stated time herein - and no written extension has been granted by the Seller. If such action occurs, United Country - Crossroads Auction & Realty, hereby has the right to disperse the deposit as stated in the listing agreement and the Buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost, and additional cost of auction as not defined in this agreement. These liquidated damages do not restrict the seller from suing the Buyer for performance damages and/or any additional damages the seller suffers by the default of the Buyer.
ARBITRATION: For disputes that are not resolved by the parties within 10 days after either party gives notice to the other of its desire to arbitrate the dispute, the dispute shall be settled by binding arbitration by the American Arbitration Association in accord with its then-prevailing rules. Judgment upon the arbitration award may be entered in any court having jurisdiction. The arbitrator shall have no power to change the provisions of this Agreement. The arbitrator shall consist of one arbitrator, who must be a real estate attorney actively engaged in the practice of law for at least the last five years.
BUYER'S NOTE: Individual purchases are to be considered as singular transactions not contingent on the sale of other properties or tracts. United Country - Crossroads Auction & Realty reserves the right to offer the property in individual tracts, combination of tracts, as a whole or in any way that we see fit in order for it to bring the most money for the Seller. The sale of combinations supersedes the sale of individual tracts. The decision of the Auctioneer is final. Seller and United Country - Crossroads Auction & Realty reserve the right to amend any terms and conditions prior to or during the auction.
BIDDER'S DUTY TO INSPECT: All information published, announced, or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller, the auctioneers, or any other person or entity. Personal onsite inspection of all property by potential bidders is strongly recommended. All sales are subject to the conditions and terms contained herein. The failure of any bidder to inspect or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, rights-of way, or any other information that can be obtained as public record in the county courthouse or any municipal office concerning subject properties. Any and all announcements made from the auction stand take precedence over all other verbal, printed, announced, and/or distributed information. Please note that you are bidding to purchase the Property "As Is, Where Is" with no guarantee or warranty.
United Country - Crossroads Auction & Realty and its agents represent the Seller and their fiduciary duties of loyalty and faithfulness are owed to their client (the Seller).
FOR A FULL LIST OF TERMS & CONDITIONS, PLEASE DOWNLOAD THE PROPERTY INFORMATION PACKET