Lafayette County Land Sale

AUCTION INFORMATION, TERMS AND CONDITIONS

Method of Auction: The farm will sell by the dollar value per acre times 106.5 surveyed acres to determine the final selling price. Offered in one parcel. Property sells with the confirmation of bid price by theseller.

Contract: Immediately following the conclusion of the land sale, we will write the sale contracts and receive the escrow earnest money of 10% down payment. Payment check is non-refundable and payable to Truman Title Company, Inc.

Closing: On or before Friday, November 18, 2022 at the office of Truman Title Company, LLC, 1511 Main St., Lexington, MO 64067. 660-259-4631

Tenant: There are no tenant agreements in place for 2023; however, the two tenants for the cropground and hay ground would like to submit proposals to the new buyer to continue farming this land in the event that a non-farmer entity purchases the land. Other farmers in the area would like to rent the ground as well.

Taxes: The 2022 taxes will be paid by the seller. The 2023 taxes and beyond will be paid by the new buyer. The taxes for 2021 totaled $496.44.

Utilities & Water: Evergy and Public Supply Water District #1.

Schools: Wellington-Napoleon School District.

Down Payment: Ten percent (10%) nonrefundable down payment the day of auction, upon signing a purchase agreement immediately following the close of bidding. The down payment
may be paid in the form of personal check, business check, or cashiers check. The remainder of the purchase price is payable at closing. YOUR BIDDING IS NOT CONDITIONAL UPONFINANCING. Be sure you have arranged financing, if needed, and are capable of paying the balance at closing.

Title: Sellers shall provide and execute a proper deed conveying the real estate to the buyer(s). Seller to pay for title insurance premium including title search and examination fees. Buyer to pay any lender fees, search premiums, or appraisals necessary to secure buyers funds for closing. Buyer and seller will split the closing costs.

Possession: The farm ground is granted at closing or once the 2022 crops have been harvested. Possession of the hay storage in quonset machine shed granted until 12-31-22.

Mineral Rights: The sale shall include 100% of the mineral rights owned by the sellers.

Easements: Sale of the property is subject to any and all easements of record.

Acreage/Survey: The property will sell by the acre amount as 106.5 acres M/L in one tract. All acreages are approximate and accurate to the best of our ability using assessors maps, measurements, and legal descriptions. The selling price based on the acreage multipliers is final and no future adjustments in sale price will be granted to either the buyer or seller of said acreage or Tracts. Any need for a survey to close this agreement is at the sole discretion of the Seller. Any need for a survey by the Purchaser, to acquire funding or close this agreement will be paid for by the Purchaser.

Note: A septic lateral from a neighbor extends onto the Emison property in the North West corner of the farm hay field. It has been no issue or problem and is small in area, however, we wish to acknowledge its existence and make any potential buyer aware. Any possible future dispute over that septic lateral will be between the adjoining landowners.

Agency: Wheeler Auctions & Real Estate and its representatives are Exclusive Agents for the sellers.

Disclaimer: The property is being sold on an “as is, where is” basis, and no warranty orrepresentation, either express or implied, concerning the property is made by either the sellers or the auction company. Each bidder is responsible for conducting its own independent inspections, investigations, and all due diligence concerning the property and the auction. Information contained in this brochure is subject to verification by all parties relying on it. Diagrams/dimensions in this brochure are approximate. Acreage is estimated. All information contained in this brochure and any related materials are subject to the terms and conditions of sale outlined in the purchase contract. Auction conduct and bidding increments are at the sole direction and discretion of the auctioneer. All decisions of the auctioneer are final. The sellers and the Auction Company reserve the right to preclude anyone from bidding if there is a question as to the person’s credentials, fitness, intent, etc.

New Data, Corrections and Changes: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information. ALL ANNOUNCEMENTS AND INFORMATION GIVEN FROM THE AUCTION PODIUM SHALL TAKE PRECEDENCE OVER PREVIOUSLY PRINTED OR STATED ADVERTISEMENT.

NO BUYERS PREMIUM AT THIS AUCTION – what you bid is what you pay.

The new buyer possesses the portion of Missouri Pacific Railroad and it has been turned into tillable acres that is not included in the 108.25 surveyed acres. Those tillable acres are included in the total 107.89 tillable acres.

CROP HISTORY

10yr avg on corn @ 164 bu/ac

2019 Corn @ 218 bu/ac

2020 Corn @ 121 bu/ac

2021 Corn @ 150.6 bu/ac

10yr avg on soybeans @ 54 bu/ac

2019 Soybeans @ 70 bu/ac

2020 Soybeans @ 53 bu/ac

2021 Soybeans @ 70.6 bu/ac

All the 21 corn crop was replanted the first week of June

FARMSTEAD INCLUDES:

3600 bu grain bin

silage trench bunker

36’x106’ Quonset machine shed

Concrete block milk barn for storage

4.86 acres of FSA tillable ground on the south edge of the farm has not been farmed for about 10 years. It is hard to access with bigger machinery. This field needs to be cleaned up and the access addressed or it will be reclaimed by nature.