Hart Producers Co-op Gin Online Auction

2475 Fm 168,  Hart,  TX  79043 |  August 18, 2017  8:00 AM - August 24, 2017  12:00 PM

George Clift, ALC | Amarillo, TX

Description

There is NO RESERVE on this online auction. We will offer in online bidding two tracts formerly known as the Hart Producers Co-op Gin. Online Bidding begins at 8:00 am CDT Friday, August 18th, and will end at 12:00 noon CDT Thursday, August 24th. The auction will "soft close" with 5 minute increments until 5 minutes elapses with no new bids on either tract. ****When you are bidding, make sure you are bidding on the correct Tract. You may bid on either tract, or both tracts.**** TRACT #1 This is the larger of the two tracts and includes the buildings. There are 17.52 + acres with paved access via FM 168 and FM 525 in Hart, TX. Facilities Office: 1,200 square foot brick office has two bathrooms, two offices, a walk-in safe, a reception area, and a counter, which overlooks the 45’ in-ground scales, and central heating and air. There is also a two-car carport. Shop: 40’ x 60’ insulated metal shop with a concrete floor. There are sliding doors on two sides, and a walkthrough door on the north side. The shop has gas heaters and lighting. Well House: The well house is a large insulated metal building and includes the well, a pressure tank, and a very large fiberglass storage tank. Module Feeder House: This building is 35’ x 190’ with roll up doors on both ends. The module feeder will be removed prior to closing. There will be an open pit on the north end. It will be the Buyer’s responsibility to fix as they see fit. Gin Building: The gin building is 80’ x 180’. All of the cotton ginning equipment will be removed prior to closing. All below grade pits and duct ways will be left uncovered and will be the Buyer’s responsibility. Seed Barn: This building is 60’ x 200’ and has a concrete floor. Other: Box Car Storage and Small two door garage shop Air Permit: There is no active air permit on this property. Est. Prop. Taxes: $5,053.00 This Equipment WILL NOT CONVEY · Two Overhead Fuel Storage Tanks · Gin Tarps · Overhead Seed House · Module Feeder · Gin Stands · Gin Equipment · Office Equipment · Compressor in Shop · Overhead Burr Stacking Auger TRACT #2 This tract consists of approximately 9.6 acres of grass with great paved frontage along FM 168 and Hawkins St. The location of this tract on the north edge of Hart offers residential or commercial opportunities for the Buyer. The annual property taxes for this tract are estimated at $200.00.

Directions

From the intersection of SH194 and FM168 in Hart, Texas, go north approximately 0.63 miles to Hawkins St. Tract #2 is located on the NW corner of this intersection. Go another 0.47 mile north to the entrance of Tract #1. Latitude: 34.397971 Longitude: -102.109675

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Terms

PROCEDURE: This online auction is for property known as the Hart Producers Co-op Gin north of Hart, Texas and will be offered in two (2) individual tracts. Online bidding will take place beginning at 8:00 am CDT Friday, August 18, 2017. The auction will “soft close” at 12:00 noon CDT Thursday, August 24, 2017. Bidding will continue in five minute increments on all Tracts, until five minutes have passed with no new bids. BIDDER QUALIFICATION: YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing. Potential bidders must register to bid at this auction through our Clift Land app. This app is available on our website at CliftLandAuctions.com/online-auctions. You may also download this app from Google Play or the Apple App Store to your mobile devices. Your registration must be approved by Clift Land Auctions before you can bid. You must agree to the auction terms and conditions during the registration process. BUYER’S PREMIUM: A five percent (5%) Buyer Premium is in effect on your purchase. The Buyer Premium will be added to the “Auction Price” to determine the “Sales Price” or “Contract Price”. ACCEPTANCE OF BID PRICES: This is an Absolute Auction. The successful bidders will sign a purchase agreement within two (2) hours of the close of the auction. DOWN PAYMENT: Ten percent (10%) down payment upon signing a purchase agreement The down payment may be paid in the form of personal check, business check, cashier’s check, or wire transfer. The remainder of the purchase price is payable in cash at closing. REAL ESTATE TAXES AND ASSESSMENTS: The Property Taxes will be prorated to the date of closing, and Seller shall have paid all Property Taxes for prior years before closing. The Buyer will be responsible for any “rollback” in the property taxes. The Buyer will be responsible for all additional taxes imposed after the date of execution of the Special Warranty Deed by seller as a result of any change in use of any part of the subject property, the intent being that all such additional taxes shall be the responsibility of the Buyer and the Buyer’s heirs, personal representatives and assigns. PROPERTY THAT WILL NOT CONVEY: Two (2) overhead fuel storage tanks; Gin tarps; Overhead Seed House: Module Feeder; Gin Stands; Gin Equipment; Office Equipment; Compressor in Shop; and Overhead Burr Stacking Auger. BROKER PARTICIPATION: Contact the Auction office to obtain the broker participation guidelines. CLOSING: Will take place on or before October 6, 2017, or as soon as applicable closing documents are completed. POSSESSION: Possession will be given at closing and funding. TITLE: Seller shall provide an Owner’s Policy of Title Insurance on the surface tract in the amount of the purchase price. Buyer will be responsible for all expenses related to acquiring a mortgagee’s title policy, if required. Seller shall execute a Special Warranty Deed conveying the surface estate to the Buyer. PROPERTY CONDITION: Property to be sold AS IS—WHERE IS and no warranty or representation, either express or implied, will be given to any bidder or Buyer. Buyer shall release Seller of any and all liability. EASEMENTS AND LEASES: Sale of the property is subject to any and all easements of record and any and all leases. SURVEY: AT THE SELLER’S OPTION, the Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in the auction. Any need for a new survey will be determined solely by the Seller. The Seller will provide a survey at it’s own cost, if needed. The type of survey performed shall be at the Seller’s option and sufficient for providing title insurance. All advertised acreages are approximate and have been estimated based on current legal descriptions and/or aerial photos. MINERAL RIGHTS: Any minerals owned by the Seller will CONVEY. AGENCY: Clift Land Auctions, LP and Clift Land Brokers and its representatives are exclusive agents of the Seller. DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in the promotion and advertisement of this auction is believed to be accurate, but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the seller, the broker, the auction company or any of their respective representatives. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. Bidders should completed this due diligence prior to bidding on this auction. Increments of bidding are at the direction and discretion of the auction company. The seller, broker and auction company reserve the right to preclude any person from bidding, if there is any question as to the person’s credentials, fitness, etc. All decisions of the auction company are final. SELLERS: Ag Producers Co-op

Company Website

http://www.cliftlandauctions.com/hart-gin-online-auction/

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