OverviewThis property is sold
SOLD! SUCCESSFUL AUCTION! SELLS FOR $750,000 as a Single Unit!
See Color Brochure, Visual Tour, Google Map and Digital Brochure below
10 Shares of The Morgan-Prewitt Reservoir Company to be offered for sale at auction. Shares within The Morgan-Prewitt Reservoir Company are Decreed water storage in the Prewitt Reservoir. Water may be delivered to South Platte River via two mile long outlet canal to individual owners under various ditch systems in District 64 or as exchange in District 1. Water may also be delivered to South Platte Ditch via the Highline Canal. One share has a delivery of 16 acre feet at the beginning of the season with a full reservoir, with an average delivery for past 20 years computed over entire irrigation season of 14.4 acre feet per share. There is no conveyance loss when exchanged in District 1 or in District 64 at or above reservoir outlet but releases are subject to transportation losses when delivered below outlet in District 64. No requirement to be landowner under the system to own water rights. Water is used as Supplemental supply by Direct Delivery or as River Exchange for the purpose of Irrigation and Augmentation.
MORGAN-PREWITT (10 SHARES) WATER RIGHT AUCTION
March 7, 2017, 10:30 A.M. MT
Reck Agri Auction Center, Sterling, CO
Court Decrees: Original Decree: CA 2142
Refill Decree: 16704
Recreation Change: 88CW235
Change Cases: CW 0359, 90 CW 0204,
95 CW 0264, 96 CW 0117, 97 CW 0171,
98 CW 0280, 00 CW 0253
Water District: 1
ID Number: 3552
Water Source: South Platte River
Diversion Location: SW 24 5N 55W, Morgan County
Outlet Location: NE SE 2, T5N, R54W, Washington County
Decreed Capacity: 32,164 AF
Recorder: Rated Flume
Uses: Irrigation, Augmentation
Priority No: 75A
Decrees: Amount: Appropriation: Adjudication:
2142 32,300 AF 5/25/1910 1/15/1914
16704 34,960 AF 12/31/1929 10/18/1965-Refill decree
Total Shares: 261 shares. The Morgan-Prewitt Reservoir Co owns 6/31st of the Prewitt Reservoir system and the above stated decrees; 8/31st of the Prewitt Reservoir is owned by Iliff Irrigation District; and 17/31st of the Prewitt Reservoir is owned by Logan Irrigation District .
Diversion Summary in Acre Feet:
47 year history: Year:
Minimum Diversion: 19,970 AF 1984
Maximum Diversion: 55,410 AF 1973
Average Diversion: 33,652 AF 1970 – 2016
COMMENTS: Decreed water storage in the Prewitt Reservoir. Water may be delivered to South Platte River via two mile long outlet canal to individual owners under various ditch systems in District 64 or as exchange in District 1. Water may also be delivered to South Platte Ditch via the Highline Canal. One share has a delivery of 16 acre feet at the beginning of the season with a full reservoir, with an average delivery for past 20 years computed over entire irrigation season of 14.4 acre feet/share. There is no conveyance loss when exchanged in District 1 or in District 64 at or above reservoir outlet but releases are subject to river transit losses when delivered below outlet in District 64. No requirement to be landowner under the system to own water rights. Water is used as Supplemental supply by Direct Delivery or as River Exchange for the purpose of Irrigation and Augmentation. 2016 assessments: $125/share; Stock Certificate assignment fee: $50/Certificate. None of the shares being sold have been through water court for change of use.
SALE TERMS/PROCEDURE: The “MORGAN-PREWITT (10 SHARES) WATER RIGHT AUCTION” is a water right auction with 5 shares being sold with NO RESERVE and 5 shares being sold with a RESERVE of $250,000. The water shares to be offered in 10 Lots, 4 Combos, No Reserve Lot, Reserve Lot, and Single Unit Lot and will be offered in the sale order as stated within the brochure. Competitive bids will determine outcome and the Seller to enter into a contract to purchase with the highest bidder(s) of the 5 shares being offered with NO RESERVE. Competitive bids will determine outcome of the 5 shares being offered for sale with RESERVE. Seller reserves the right to accept or reject bids below the reserve bid of $250,000 on the reserve shares. Seller to enter into a contract to purchase with the highest bidder (s). Seller reserves the right to accept or reject any and all bids below said RESERVE. The Single Water Lot Unit will be offered only upon the Seller declaring the Reserve Lot will sell. 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 share.
SIGNING OF PURCHASE CONTRACT: Immediately following the conclusion of the auction, the highest bidder (s) will sign Brokerage Disclosure and will enter into and sign a Contract to Buy and Sell 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 electronic transfer funds or cashier’s check (Good Funds), the balance of purchase price plus their respective closing costs, and sign and complete all customary or required documents at closing, which is on or before March 24, 2017. Closing to be conducted by Reck Agri Realty & Auction. Seller to pass title free of all liens and encumbrances by Assignment of Water Right Stock Certificate. Buyer(s) to pay the Stock Certificate Transfer Fee.
POSSESSION: Possession upon closing.
ASSESSMENT: 2017 Assessments to be paid by Buyer (s).
WATER RIGHTS: The water rights appurtenant to the stock certificates are subject to the rules, regulations, and limitations of the Colorado Department of Water Resources and The Morgan-Prewitt Reservoir Company. Water rights are being sold AS IS-WHERE IS without warranty or guarantee of any water right matters, adequacy and/or delivery of ditch water, reservoir storage, and stream flows.
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 by visiting auction property page at www.reckagri.com, 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.
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 prospective Buyer(s) should verify all information contained herein and rely on their own conclusions. All the water rights are being 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 Transaction 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-PREWITT (10 SHARES) WATER RIGHT AUCTON”. 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.
COPYRIGHT NOTICE: Photographs, video tapes, and Color & Detail Brochures are property of Reck Agri Realty & Auction and cannot be reproduced without permission. Auction photographs may be used by Reck Agri Realty & Auction in publications, marketing materials, and on its website.
Reck Agri Auction Center, Sterling, CO
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- Morgan County, CO
- Morgan Prewitt (10 Shares) Water Right Auction
- SOLD BY AUCTION, $750,000
- Tuesday, March 7, 2017 – 10:30 am, MT
- Reck Agri Auction Center, Sterling, CO
- 5 shares offered with NO RESERVE
- 5 shares offered with RESERVE of $250,000
- Shares to be offered in lots of 1, 2, 3, 5 and 10
- Average delivery over past 20 years of 14.4 acre feet per share
- No requirement to be a landowner under system to own water rights
- Decreed water storage in Prewitt Reservoir
- May be used under multiple ditch systems in District 64
- May be used as an exchange in District 1
- Water is used as Supplemental supply by direct delivery or as river exchange for purpose of irrigation and augmentation.