Farm Land Auction
10:00 AM Monday, May 8, 2017
Auction Note: Selling 80 Acres (+-) w/Building Site Located in Iroquois Township, Iroquois County, IL.
Monday, May 8th, 2017 @ 10:00am CST
80 Acres More or Less
Iroquois Township, Iroquois County, Illinois
Auction Location: Crescent City Community Center, East Main Street (US Rt. 24) – Crescent City, IL. 60928
Land Location: 1408E 1900N Rd., Watseka, IL. 60970
Directions: In Crescent City, from the 4 way stop, (Rt. 24 & Rt. 49), Go 1 Mile North, (East side of road.)
Inspection Date: Monday, April 24th from 5-7p.m.
Legal Description of Land: The West Half (W ½) of the Southwest Quarter (SW ¼) of Section Twenty-nine (29), Township Twenty-seven (27) North, Range Thirteen (13) West of the Second (2nd) Principal Meridian, Iroquois County, Illinois; being Eighty (80) acres, more or less. Farm No. 2199; Track No. 3371;
Alice Coordes, as Trustee of the Ralph Odel Cary and Imogene Cary Trust, will offer for sale at public auction approximately 80 acres of land, more or less, located in Iroquois Township, Iroquois County, Illinois. Approx. 1,772 sq. ft.— 2 Story Home w/Basement; 30’ x 40’ Work Shop w/Water & Heat; Solid Old Barn w/Steel Roof; Other Small Out-buildings all sitting on approx. 4.5 acres. The balance of property being sold as tillable acres plus or minus w/waterway; Productive soil types, highway frontage w/field entrance at north end.
Offered in 2 Tracts: The real estate will be offered initially in two tracts. Tract A will consist of approximately 4.5 acres, more or less, in rectangular form, located in the Southwest corner of the farm, which tract will include the pasture land, building site and all buildings. Tract B will consist of the balance of the farm. Tracts A and B may be offered in combination as a single tract at the owner’s discretion. The Buyer of Tract A will receive possession on the date of closing. The buyer of Tract B will receive possession of the tract upon harvest of the 2017 crop.
Ralph O. & Imogene Cary Trust; Alice Cary Coordes, Trustee; For Info: 815-474-7748
Auction Terms: The successful buyer will be required to put down 10% day of auction and execute a contract for the purchase of the real estate under the terms and conditions specifies herein. The earnest money should be in the form of a personal check or cashier's check (non-refundable). The balance of the purchase price will be due at closing (on or before June 8, 2017). Seller reserves the right to reject any or all bids. Property being sold as-is where-is with no warranties.
Additional Terms & Conditions: The real estate will be offered initially in two tracts. Tract A will consist of approximately 4.5 acres, more or less, in rectangular form, located in the Southwest corner of the farm, which tract will include the pasture land, building site and all buildings. Tract B will consist of the balance of the farm. Bidding for Tract A will be in total dollars. Bidding for Tract B will be in dollars per acre. If the highest bid for Tract B is accepted, the purchase price for Tract B will be determined by multiplying the bid per acre by the total acres of Tract B, as determined by survey. Tracts A and B will also be offered for sale in combination as a single tract. Bidding for the combined tract will be in dollars per acre. If the highest bid for the combined tract is accepted, the purchase price will be determined by multiplying the bid per acre by the total acres of the combined tract, as determined by survey. The Sellers reserve the right to reject any and all bids. The successful bidder(s), if any, will be required to enter into a written contract on the date of sale and to pay down on that day an amount equal to 10% of the purchase price.
The closing shall take place on or before June 8, 2017. The Buyer of Tract A will receive possession on the date of closing. The buyer of Tract B will receive possession of that tract upon harvest of the 2017 crop and will be able to do fall field work once the crop is harvested, if desired. With respect to Tract B, the Sellers shall receive the landlord’s share of the 2017 farm income and shall pay the landlord’s share of the 2017 crop expenses. With respect to both tracts, the Sellers shall pay the 2016 real estate, taxes payable in 2017, on or before the date of closing. The 2017 real estate taxes, payable in 2018, attributable Tract A, shall be prorated as of the date of closing and settled for on that date, as a credit against the purchase price. The Sellers shall pay the 2017 real estate taxes, payable in 2018, attributable Tract B by giving the Buyer a credit for those taxes against the purchase price on the date of closing.
The Sellers shall pay the cost of the survey, the customary sellers’ expense for the issuance of an owner’s title insurance policy in the amount of the purchase price and the cost of the documentary stamps on the deed of conveyance.
Disclaimer and Absence of Warranties: All information contained herein and all related materials are subject to the terms and conditions outlined in the Contract to purchase. Announcements made by the auctioneer at the time of auction and during the sale will take precedence over any prior printed material or oral statements. The property is being sold on an "as-is where-is" basis, and no warranty or representation, either expressed or implied, concerning the property is made by the seller or the auction company. Information contained herein is believed accurate, but subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by Seller or the Auctioneer. Conduct at the auction and increments of bidding are at the discretion and direction of the auctioneer.
Ralph O. & Imogene Cary Trust
Alice Cary Coordes, Trustee