Datteri Brothers Colorado Irrigated Land Auction

Logan County, CO 266 +/- - 213.8 ac Irrigated – 39.3 ac Rural acreage w/improvements Acres

Overview

Overview

This property is sold

Successful Auction!  High bids total $2,105,000. Combo # 1 – $1,800,000 and Parcel #2 $305,000

The Datteri Brothers are offering their 266 acres of Colorado irrigated land for sale at auction. Located in southwest Logan County, Colorado near Sterling. The Datteri property includes the following: 1.) 213.8 +/- acres of flood irrigated land for sale, which is a highly desirable and sought after irrigated agricultural property; and 2.) 39.3 +/- acre rural acreage with improvements, scenic location along the South Platte River, includes a remodeled home, machine shed, and miscellaneous outbuildings, and riverbottom pasture, & 3.) 12.9 +/- acres roads and waste. Possession upon closing. 100% of the owned mineral rights to Buyer(s). Senior ditch water rights with irrigation well. The Multi Parcel Auction bidding format allows all bidders an equal opportunity to partici-pate and purchase 2 parcels of irrigated land separately or in combination to add to or expand your operation and/or current investment portfolio, plus the opportunity to purchase the 39.3 +/- acre rural acreage with improvements. The Datteri Brothers property has been within the family for 89 years and once sold, may never again be publicly offered for sale.

Parcel Descriptions

PARCEL #1A: 148.7 +/- Ac Flood Irrigated – 138.1 +/- ac flood irrigated; 10.6 +/- ac roads & waste; Legal: A tract in the SE1/4 of 3, T6N, R53W, Logan County, CO; Location: From Atwood, CO, 1.5 mi S on Highway 63 to CR 14, .5 mi W on CR 14 to CR 33, .5 mi S on CR 33 to NE corner of the property; CR 33 borders east property line, CR 12 borders south property line; Property currently flood irrigated with level terrain; Class II soils; Shared irrigation well & equipment with Parcel #1B: Well #11751 adjudicated in Water Court Case #W-1250 augmented by Logan Well Users Group; 40 HP electric motor & pump; 8 shares of Schneider Ditch Company, 70.8 acre rights within Logan Irrigation District; FSA base: 70.5 ac corn w/139 bu yield, 16.6 ac wheat w/50 bu yield, 5.4 ac barley w/59 bu yield; 16,000 +/- bu grain storage & used Harvestor facilities, 2011 R/E taxes: $1,441.64.

PARCEL #1B: 78 +/- Ac Flood Irrigated – 75.7 +/- ac flood irrigated; 2.3 +/- ac roads & waste; Legal: W1/2SW1/4 of 2, T6N, R53W, Logan County, CO; Location: From Atwood, CO, 1.5 mi S on Highway 63 to CR 14, .5 mi W on CR 14 to CR 33, .5 mi S on CR 33 to NW corner of the property; CR 33 borders west property line, CR 12 borders south property line; Property currently flood irrigated with level terrain; Class II soils; Shared irrigation well & equipment with Parcel #1A; 4 shares of Schneider Ditch Company; FSA base: 34.7 acre corn w/139 bu yield, 8.1 acre wheat w/50 bu yield, 2.7 acre barley w/59 bu yield; 2011 R/E taxes: $866.84.

COMBO #1 (Parcels #1A & #1B): 226.7 +/- Ac Flood Irrigated – 213.8 +/- ac flood irrigated; 12.9 +/- ac roads & waste; Well #11751 adjudicated in Water Court Case #W-1250 augmented by Logan Well Users Group; 40 HP electric motor & pump; 12 shares of Schneider Ditch Company, 70.8 acre rights within Logan Irrigation District;FSA base: 105.2 ac corn w/139 bu yield, 24.7 ac wheat w/50 bu yield, 8.1 ac barley w/59 bu yield; 2011 R/E taxes: $2,308.48.

PARCEL #2: 39.3 +/- Ac Rural Acreage w/Improvements – 15.4 +/- ac flood irrigated, 23.9 +/- acres subirrigated riverbottom pasture & improvement site; Legal: Part of the SE1/4 & SW1/4NE1/4 of 3, T6N, R53W, Logan County, CO; Location: From Atwood, CO, 1.5 mi S on Highway 63 to CR 14, .5 mi W on CR 14 to CR 33, .5 mi S on CR 33, .3 mi W on private gravel road to improvements; Property is a rural acreage with improvements, flood irrigated and riverbottom subirrigated pasture; 2 shares of Schneider Ditch Company; Improvements includes 1,876 sq ft, 1 1/2 story, 5 bedroom, 2 bath home w/ 2 car attached garage, built in 1906, with additions in 1944 and 1997; 39’ x 72’ metal machine shed w/cement floor, new 24’ x 30’ workshop, and other misc outbldgs; scenic location along South Platte corridor; 2011 R/E taxes: $1,234.16.

Terms and Conditions

SALE TERMS/PROCEDURE: The “Datteri Brothers Irrigated Land Auction” is a land auction with Reserve. The Datteri Broth-ers property to be offered as a “MULTI PARCEL” Auction in 3 parcels and 1 combo. The parcels and combo will be offered in the sale order as stated within the brochure. The parcels and combo will compete to determine the highest aggregate bid(s) acceptable to the Seller. Seller reserves the right to accept or reject any and all bids. 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 follow-ing 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 respec-tive closing costs, and sign and complete all customary or required documents at closing, which is on or before December 21, 2012. Closing to be conducted by Stewart Title of Sterling 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). The Buyer(s) to receive a TBD title commitment within detail brochure, updated title commitment with Buyer(s) name, lender, purchase price, and all supplements and additions thereto after auction, and an owner’s title insurance policy in an amount equal to the Purchaser Price after closing. If there are any additional exceptions added to the title commitment, Buyer(s) shall have 5 days after receipt of updated commitment to accept additional exceptions. Seller will not pay any cost of lender’s or mortgagee’s policy or title endorsements requested by Buyer(s). Property to be sold subject to existing roads and highways; established easements and rights-of-way; prior mineral reservations, conveyances of record and minerals reserved by Seller as shown within the within Terms and Conditions; oil and gas leases of record; patent reservations; other matters affected by title docu-ments shown within the title commitment; and zoning, building, subdivision, and other restrictions and regulations of record. Title commitment is available for review within the detail brochure and at the auction and title commitment and exceptions will be incor-porated and made a part of the Contract to Buy and Sell Real Estate (Land).

POSSESSION: Possession of farmland upon closing. Posses-sion of improvements on or before February 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, water, water rights, water development rights, and tributary and non-tributary groundwater, appurtenant to the property, including but not limited to the following: 1 Irrigation well, all water rights thereof by virtue of the inclusion therein of the above real estate within the boundaries of the Logan Irrigation District, all rights to transport, convey, and deliver water from said water rights through canals, ditches, and laterals; Seller to convey and assign all right, title, and interest to 14 capital stock shares of The Schneider Ditch Company and all rights to Logan Well Users Group. 2012 irrigation assessments paid by Seller.

GROWING CROPS: No growing crops.

REAL ESTATE TAXES: 2012 Real Estate Taxes due in 2013 to be paid by Seller.

FSA DETERMINATION: FSA base acres and yields to pass with the parcels or combo as designated within the detail brochure. Buyer(s) and Seller, at closing, to sign a memorandum of under-standing 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 Parcel #2 sells 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 to Buyer(s).

NOXIOUS WEEDS: There may be areas infested by noxious weeds, (i.e. rye, bindweed, canadian thistle, rye, 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 differ-ent than what is stated in this brochure and/or stated at the auction.

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 Meet-ing 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.

A DETAIL BROCHURE is available upon request and is REQUIRED to bid at the auction, via cell phone, or on-line bidding. It includes the terms and conditions of the auction, pertinent facts, title commitment, Auction Land Contract, etc. For additional color photos visit the “Datteri Brothers Irrigated Land Auction” Visual Tour on our website: www.reckagri.com

COPYRIGHT NOTICE: Photographs, video tapes, and Color & Detail Brochures are property of Reck Agri Realty & Auction and cannot be reproduced without permis-sion. Auction photographs may be used by Reck Agri Realty & Auction in publications, marketing materials, and on the Internet web page.

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 equip-ment 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. Datteri Brothers and/or heirs of Datteri Brothers reserve the right to bid at the auction. 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 “Datteri Brothers Irrigated 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.

Announcements made by Reck Agri Realty & Auction (hereinafter referred to as Broker) at the time of sale will take precedence over any previously printed material or other oral statements.

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Location

  • Logan County, CO
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Quick Facts

  • Successful Auction! High bids total $2,105,000
  • Datteri Brothers Irrigated Land Auction w/reserve
  • 266 +/- total acres
  • 213.8 +/- acres of Flood Irrigated
  • SW Logan County, Colorado
  • S of Atwood, Colorado
  • Possession of farmland upon closing
  • 39.3 +/- acre rural acreage w/improvements
  • Senior ditch water rights w/irrigation well
  • 100% of owned mineral rights
  • Offered in 3 Parcels, One combo

Property Type(s)