TESSS Farms Inc Land Auction

AUCTION DATE/TIME: The TESSS Farms Inc Land Auction will be held Thursday, March 10, 2022 at 10:30 am, MT at the Country Inn & Suites, Sidney, NE. In the event of inclement weather, visit reckagri.com or our Facebook page.
OVERVIEW: TESSS Farms Inc is offering their Cheyenne County, NE property for sale at auction! This auction features seven parcels of land comprised of pivot irrigated cropland, dry cropland, pasture, and expired CRP. Situated 10.1± miles southwest of Lodgepole, NE and Interstate 80 or 13± miles northwest of Crook, CO. Featuring 1,834± total acres offered in 7 Parcels, 3 Combos, Pivot Irr Unit, and Farm Unit. Possession upon closing; no growing crops. Predominantly Class I & II soils. Terrain for the majority of the pivot irrigated and dry farmland is level to slightly rolling. Seller is reserving 50% non-participating mineral right royalty interest for 15 years. Some of the property being sold has been within the same family for over 113 years and once sold may never be publicly offered for sale for generations. This auction provides a diversified offering of properties for Buyer(s) looking for pivot irrigation, dryland, upland bird hunting, and/or the livestock operator.
SALE TERMS/PROCEDURE: The “TESSS FARMS INC LAND AUCTION” is a land auction with NO RESERVE. Competitive bids will determine outcome of auction and the Seller to enter into a contract to purchase with the highest bidder(s). Property to be offered in 7 Parcels, 3 Combos, Pivot Irr, and Farm Unit. The parcels, combos, and units will be offered in the sale order as stated within the brochure. The parcels, combos, and units 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 AGREEMENT: Immediately following the conclusion of the auction, the highest bidder(s) will sign Disclosure of Brokerage Relationships in Real Estate Transactions and will enter into and sign a Farm, Ranch, and Land Purchase Agreement 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. Said earnest money is due upon the signing of the Farm, Ranch, and Land Purchase Agreement and to be deposited with Reck Agri Realty & Auction. Farm, Ranch, and Land Purchase Agreement will not be contingent upon financing. Terms and conditions in the Detail Brochure and oral announcements shall be incorporated and made a part of the Farm, Ranch, and Land Purchase Agreement. Sample Farm, Ranch, and Land Purchase Agreement is available within the Detail Brochure.
CLOSING: Buyer(s) shall pay in 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 April 8, 2022. Closing to be conducted by Thalken Title Company 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, encumbrances, special assessments levied or assessed, and subject to the royalty reservation set forth herein and all easements, restrictions, covenants, reservations, and rights of way of record and other standard exceptions in the title insurance policy insuring title. Title commitments are available for review within the Detail Brochure and title commitment and exceptions will be incorporated and made a part of the Farm, Ranch, & Land Purchase Agreement. 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), except Buyer(s) to pay for cost of loan title insurance policy, if applicable. 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 Purchase Price after closing. Property to be sold subject to existing roads and highways; established easements and rights-of-way; prior mineral reservations and the royalty reservation set forth herein; and other matters affected by title documents shown within the title commitment; and zoning, building, subdivision, and other restrictions and regulations of record, and other standard exceptions in the title insurance policy insuring title
POSSESSION: Possession upon closing.
PROPERTY CONDITION: 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 & EQUIPMENT: Seller to convey all Seller’s water rights, water wells, well permits, and equipment appurtenant to the property whether for irrigation or livestock use. Each of the wells are subject to the rules, regulations, and limitations of the Nebraska Department of Natural Resources and the South Platte Natural Resource District. Water rights are being sold AS IS-WHERE IS without warranty or guarantee of any water right matters, pumping rates or adequacy of livestock or irrigation wells, and/or condition of all livestock or irrigation equipment.
GROWING CROPS: No growing crops.
REAL ESTATE TAXES: 2021 Real Estate Taxes due in 2022 to be paid by Seller, at closing. 2022 Real Estate Taxes due in 2023 and thereafter to be paid by Buyer(s).
FSA DETERMINATION: FSA base acres and yields to pass with the Parcels, Combos, or Units as designated within 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. Property is being offered without the improvement sites. Seller to provide survey of excluded parcels.
MINERALS: Seller is reserving a 50% of nonparticipating royalty interest in all oil, gas, and minerals which may be produced from the real estate for a period of 15 years after the date of closing. If production occurs during such 15 year period, then this royalty reservation shall continue as long as there is production in paying quantities. This royalty reservation will be included in the deed transferred to Buyer(s).
NOXIOUS WEEDS: There may be areas infested by noxious weeds. The location of and the density of noxious weeds is unknown at this time.
ACREAGES: All stated acreages in the Color 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.
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 assume 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 Limited Seller’s Agent. 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 “TESSS FARMS INC 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. Bidding increments are at the discretion of the Broker.
COPYRIGHT: Photographs, videos, 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.