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Morgan County Colorado Pivot Irrigated Absolute Land Auction

Details

Tuesday, April 9, 2013 @10:30 am MT
Clarion Inn, Fort Morgan, CO
863.27 +/- Ac Pivot and Flood Irrigated - Morgan County, Colorado

Description

Successful Auction! $4,250,000 for the Single Unit or $5,317 per irrigated acre.

The owner of the Morgan County Pivot Irrigated is offering a total of 863.2 +/- acres of Colorado Pivot Irrigated Land for Sale at absolute auction consisting of 657.1 +/- acres of pivot irrigated and 142.2 +/- acres of flood irrigated.  Located in east central Morgan County, CO. The Morgan County Pivot Irrigated property is located adjacent to and within 2 +/- miles of Hillrose, CO. The land tenure of the property is level pivot and flood irrigated farmland with primarily Class III soils with smaller areas of Class IV. Irrigation water for the property is via 16 Shares of Upper Platte & Beaver Canal Co, 65 Shares of Lower Platte & Beaver Canal Co, 12 Shares of Beaver Creek Ditch Co, 397 acres rights within Hillrose Irrigation District, 9 irrigation wells, and 6 pivots. Possession is subject to a cash farm lease for the 2013 crop season and  Buyer(s) to receive the cash rent payment of $600/acre. Seller to convey owned mineral rights to the Buyer(s). The Morgan County Pivot Irrigated Land for Sale is highly desirable and sought after irrigated agricultural property. The Reck Agri Realty & Auction Multi Parcel Auction bidding format allows all bidders an equal opportunity to participate and purchase irrigated land to add to or expand your operation and/or current investment portfolio. Seldom does land come up for sale in the area, and once sold, may never again be publicly offered for sale.

PARCEL #1A - PIVOT IRRIGATED – 287.2 +/- Total Acres; 233.8 +/- ac pivot irrigated; 43.4 +/- ac flood irrigated, 10.0 +/- ac rds/waste; Legal: A tract S & E of RR in 20, T4N, R55W, Morgan County, CO; Location: From Hillrose, CO, 1.5 mi SW on Highway #6 to NE corner of the property; Highway #6  borders NW property line; Property currently primarily pivot irrigated with small areas of flood irrigated with level terrain; Soils consist primarily of Class III soils w/small areas of Class IV; Irrigation Well Permits #1177, #1178, & #8705; 16 shares of Upper Platte & Beaver Canal Co, 9 shares of Lower Platte & Beaver Canal Co,  12 shares of Beaver Creek Ditch, 16 shares of Camden Lateral Co, and 77 acre rights within Hillrose Irrigation District; Irrigation equipment includes: Pit pump - 50 hp electric motor w/pump; Irrigation wells: 2 - 40 hp electric motors w/pumps & 1 – well with no motor; Pivot: 18 tower Zimmatic pivot;  FSA base: 249.5 ac corn w/128 bu yield; 2012 R/E taxes: $2,539.96.

PARCEL #1B - PIVOT IRRIGATED – 232.2 +/- Total Acres; 155.5 +/- ac pivot irrigated; 35.7 +/- ac flood irrigated, 41.0 +/- ac rds/waste; Legal: A tract in 21, T4N, R55W, Morgan County, CO; Location: From Hillrose, CO, 1.5 mi SW on Highway #6 to CR V, .1 mi E on CR V to NE corner of the property; CR V borders N property line; Property currently primarily pivot irrigated with small areas of flood irrigated with level terrain; Soils consist primarily of Class III soils; Irrigation Well Permits #8346 & #8347; 20 shares of Lower Platte & Beaver Canal Co & 80 acre rights within Hillrose Irrigation District; Irrigation equipment includes: Pit pump - 40 hp electric motor w/pump; Irrigation wells: 40 hp & 25 electric motors w/pumps; Pivots: 8 tower Reinke pivot & 8 tower Lockwood pivot;  FSA base: 54.9 ac corn w/128 bu yield & 118 ac corn w/135 bu yield; 2012 R/E taxes: $2,920.76.

COMBO #1 - (PARCELS #1A & #1B) – 519.4 +/- Total Acres; 389.3 +/- ac pivot irrigated; 79.1 +/- ac flood irrigated, 51.0 +/- ac rds/waste; 5 - Irrigation Wells; 16 shares of Upper Platte & Beaver Canal Co, 29 shares of Lower Platte & Beaver Canal Co,  12 shares of Beaver Creek Ditch, 16 shares of Camden Lateral Co, and 157 acre rights within Hillrose Irrigation District; Irrigation equipment includes: 2 - Pit pumps, 4 - electric motors w/pumps & 1 well with no motor; 3 - Pivots;  FSA base: 304.4 ac corn w/128 bu yield & 118 ac corn w/135 bu yield; 2012 R/E taxes: $5,460.72.
PARCEL #2 - PIVOT IRRIGATED – 149.9 +/- Total Acres; 119.3 +/- ac pivot irrigated; 22.2 +/- ac flood irrigated, 8.4 +/- ac rds/waste; Legal: A tract in 15, T4N, R55W, Morgan County, CO; Location: Adjacent to Hillrose, CO to the south; CR 33 borders W property line, CR W borders N property line, CR V borders S property line; Property currently primarily pivot irrigated with small areas of flood irrigated with level terrain; Soils consist primarily of Class III soils; Irrigation Well Permits #9155F, #8427, & #8559; 16 shares of Lower Platte & Beaver Canal Co & 160 acre rights within Hillrose Irrigation District; Irrigation equipment includes: Pit pump - 25 hp electric motor w/pump; Irrigation wells: 2 - 25 hp electric motors w/pumps & 15 hp electric motor not hooked up; Pivots: 2 - 7 tower Reinke pivots;  FSA base: 110.9 ac corn w/128 bu yield & 29.3 ac wheat w/51 bu yield; 2012 R/E taxes: $4,827.16; Improvements include: 60’ x 200’ open face hay shed, 54’ x 118’ machine shed, & 62,000 +/- bu grain storage.

PARCEL #3 - PIVOT IRRIGATED – 193.9 +/- Total Acres; 148.5 +/- ac pivot irrigated; 40.9 +/- ac flood irrigated, 4.5 +/- ac rds/waste; Legal: A tract in 10 & 11, T4N, R55W, Morgan County, CO; Location: .25 mi E of Hillrose, CO on CR W to SW corner of property; CR W borders S property line; Property currently primarily pivot irrigated with small areas of flood irrigated with level terrain; Soils consist primarily of Class III soils w/small areas of Class IV soils; Irrigation Well Permit #8553; 20 shares of Lower Platte & Beaver Canal Co & 80 acre rights within Hillrose Irrigation District; Irrigation equipment includes: Pit pump - 30 hp electric motor w/pump; Irrigation well: 1 - 40 hp electric motor w/pump; Pivots: 8 tower & 7 tower Valley pivots;  FSA base: 168.8 ac corn w/45 bu yield; 2012 R/E taxes: $1,997.20.

SINGLE UNIT - (PARCELS #1A, #1B, #2 & #3) – PIVOT IRRIGATED – 863.2 +/- Total Acres; 657.1 +/- ac pivot irrigated; 142.2 +/- ac flood irrigated, 63.9 +/- ac rds/waste; 16 shares of Upper Platte & Beaver Canal Co, 65 shares of Lower Platte & Beaver Canal Co, 12 shares of Beaver Creek Ditch Co, 16 shares of Camden Lateral Co, and 397 acre rights within Hillrose Irrigation District; Irrigation equipment includes: 4 - Pit pumps, 9 - Irrigation wells, 7 - Pivots;  FSA base: 415.3 ac corn w/128 bu yield, 118 ac corn w/135 bu yield, 168.8 corn w/45 bu yield, & 29.3 ac wheat w/51 bu yield; 2012 R/E taxes: $12,285.08; Improvements described within Parcel #2.

SALE TERMS/PROCEDURE: The "MORGAN COUNTY PIVOT IRRIGATED ABSOLUTE LAND AUCTION" is a land auction with (NO) RESERVE. The Morgan County Pivot Irrigated property to be offered as a "MULTI PARCEL" Auction in 4 Parcels, 1 Combo, and as a Single Unit. The parcels, combo, and Single Unit will be offered in the sale order as stated within the brochure. The parcels, combo, and Single Unit will compete to determine the highest aggregate bid(s). Seller agrees not to accept and negotiate any contracts to purchase prior to auction date. Bids will be taken for total purchase price not price per acre.

SIGNING OF PURCHASE CONTRACT: Immediately following the conclusion of the auction, the highest bidder(s) will enter into and sign a Contract to Buy and Sell Real Estate (Land) for the amount of the bid. Required earnest money deposit to be in the form of a personal, business, or corporate check for 15% of the purchase price which is due upon the signing of the contract and to be deposited with Reck Agri Realty & Auction. Purchase contract will not be contingent upon financing. Terms and conditions of the detail brochure and oral announcements shall be incorporated and made a part of the contract. Sample contract is available within the detail brochure.

CLOSING: Buyer(s) shall pay in cash, electronic transfer funds, or cashier's check (Good Funds), the balance of purchase price (purchase price less earnest money deposit), plus their respective closing costs, and sign and complete all customary or required documents at closing, which is on or before May 10, 2013. Closing to be conducted by Northern Colorado Title Services and the closing service fee to be split 50-50 between Seller and Buyer(s).

TITLE: Seller to pass title by Warranty Deed free and clear of all liens. Title Insurance to be used as evidence of marketable title and cost of the premium to be split 50-50 between Seller and Buyer(s). Property to be sold subject to existing roads and highways; established easements and rights-of-way; prior mineral reservations and conveyances of record; oil and gas leases of record; patent reservations; other matters affected by title documents shown within the title commitment; and zoning, building, subdivision, and other restrictions and regulations of record. Title commitments are available for review within the detail brochure and at the auction and title commitment and exceptions will be incorporated and made a part of the Contract to Buy and Sell Real Estate (Land).

POSSESSION: Possession of property subject to an existing farm lease with the Seller for the 2013 crop season at a cash rental rate of $600/irrigated acre. Said written farm lease is included and made a part of the detail brochure and shall be entered into at closing. First half payment to be paid by Seller to Buyer(s) at closing and the second half payment due and payable on or before December 1, 2013. 

PROPERTY CONDITION: The prospective Buyer(s) should verify all information contained herein. All prospective bidders are urged to fully inspect the property, its condition, and to rely on their own conclusions and the property is being sold AS IS-WHERE IS, without warranty, representation or recourse to Seller.

WATER RIGHTS: Together with all water wells and equipment, well permits, all water, water rights, water development rights, tributary and non-tributary groundwater, all ditch rights, reservoir rights, lateral rights and conveyance canal rights, and all easements and rights-of-way associated with said water rights, and all domestic wells and irrigation wells appurtenant to the property. The water rights are subject to the rules, regulations, and limitations of the Colorado Department of Water Resources, Lower Platte and Beaver Irrigation, Upper Platte and Beaver Irrigation Co., Beaver Irrigation Co., Hillrose Irrigation District and Land Owners Augmentation Agreements. Water rights being sold AS-IS WHERE-IS without warranty or guarantee of any water right matters, adequacy and/or delivery of ditch water and stream flows, pumping rates/adequacy of pit pumps and condition of all irrigation equipment. Seller to pay 2013 irrigation season assessments.

PERSONAL PROPERTY: All pumps, motors, electric panels & ancillary equipment associated with the irrigation & domestic wells located on the property. All equipment, improvements and property to be sold in AS-IS WHERE-IS without warranty, representation, or recourse to Seller after closing.

REAL ESTATE TAXES: 2013 real estate taxes due in 2014, and thereafter to be paid by Buyer(s).

FSA DETERMINATION: FSA base acres and yields to pass with the Parcels, Combo, or Single Unit as designated within the detail brochure. Buyer(s) and Seller, at closing, to sign a memorandum of understanding stating the base acres and yields as designated within the detail brochure.

LEGAL DESCRIPTION: Legal descriptions are subject to existing fence/field boundaries or land-use trades, if any. If Parcels #1A & #1B sell separately, Seller, at their cost, to provide a survey for a metes and bounds legal description after the auction, but before closing.

MINERALS: Seller to convey all OWNED mineral rights.

NOXIOUS WEEDS: There may be areas infested by noxious weeds, (i.e. rye, bindweed, Canadian thistle, goat/Johnson grass, etc). The location of and the density of noxious weeds is unknown at this time.

ACREAGES: All stated acreages in the initial brochure, detail brochure, and visual presentation at the auction are approximate and are obtained from aerial photos from the FSA office. The county tax records may indicate different acreages and no warranty is expressed or implied as to exact acreages of property. All bids are for the total parcel without regard to exact acreage. There will be no adjustment in purchase price if acreage is different than what is stated in this brochure and/or stated at the auction.

ANNOUNCEMENTS: The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Reck Agri Realty & Auction and the Seller assumes no responsibility for the omissions, corrections, or withdrawals. The location maps are not intended as a survey and are for general location purposes only. The prospective Buyer(s) should verify all information contained herein. All prospective bidders are urged to fully inspect the property, its condition and to rely on their own conclusions.  All equipment and improvements are to be sold AS IS-WHERE IS, without warranty, representation or recourse to Seller. Reck Agri Realty & Auction and all other agents of Broker are or will be acting as a Transactional Broker. Announcements made by Reck Agri Realty & Auction, at the time of sale will take precedence over any previously printed material or other oral statements. Reck Agri Realty & Auction does not offer broker participation for the "MORGAN COUNTY PIVOT IRRIGATED ABSOLUTE LAND AUCTION". Reck Agri Realty & Auction reserves the right to require bank references upon request and reserves the right to refuse bids from any bidder. Bidder increments are at the discretion of the Broker.

MULTIPLE PARTY BID: If several parties go together and collectively bid on parcels and the Multiple Party Bid is the highest bid, at the conclusion of the auction each party within the Multiple Party Bid shall identify and agree to sign separate contract(s), pay for their respective separate parcel(s) at closing, and pay for a metes & bounds survey and additional title insurance premium to create the legal description for their respective separate parcel. The collective purchase prices for the separate Parcel(s) shall equal the total Multiple Party Bid.

BIDDER REQUIREMENTS: Prior to auction, Buyer(s) to review the terms and conditions as set forth in the Detail Brochure. Detail Brochure may be obtained at the Buyers' Information Meeting or by calling Reck Agri Realty & Auction. Bidding via cell phone, internet, and/or bidding on someone’s behalf, must be approved by Reck Agri Realty & Auction 24 hours prior to auction.

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SOLD: $4,250,000

Quick Facts

  • Morgan County Pivot Irrigated Absolute Land Auction
  • Successful Auction! $4,250,000 for the Single Unit or $5,317 per irrigated acre.
  • 863.2 +/- total acres
  • 657.1 +/-acres of Pivot Irrigated
  • 142.2 +/-acres of Flood Irrigated
  • 63.9 +/- acres rds, ditches, & waste
  • East Central Morgan County, Colorado
  • Adjacent to and within 2 mi of Hillrose, Colorado
  • Possession subject to 2013 cash farm lease
  • Buyer to receive $600/ac cash rent for 2013
  • Level pivot & flood irrigated farmland
  • Primarily Class III soils w/small area of Class IV
  • 7 - Pivots
  • 9 – Irrigations Wells
  • 16 Shares of Upper Platte & Beaver Canal Co.
  • 65 Shares of Lower Platte & Beaver Canal Co.
  • 12 Shares of Beaver Creek Ditch Co.
  • 397 acres rights within Hillrose Irrigation District
  • Seller to convey 100% of owned mineral rights
  • Offered in 4 Parcels, 1 Combo, Single Unit