LAND AUCTION Serving America s Landowners Since 1929 L-1200791 682.74+/- Acres, Iroquois County, Illinois Thursday, September 20 9:00 AM (CST) At the Clifton Community Building 330 East 4th Avenue Clifton, Illinois WILL BE OFFERED AS EIGHT SINGLE TRACTS, ANY COMBINATION, OR AS A TOTAL UNIT! www.farmersnational.com For additional information, please contact: Brent Culver, Agent Lafayette, Indiana Office Phone: (765) 742-5900 Ext. 2 Cell Phone: (765) 426-8142 BCulver@FarmersNational.com Auctioneer: Norm Willoughby License Number: 440.000001 Real Estate Sales Auctions Farm and Ranch Management Appraisals Insurance Consultations Oil and Gas Management Lake Management National Hunting Leases
PROPERTY INFORMATION Property Location: Tracts 1-4 are located one mile east of Clifton, Illinois in Section 11, off County Road 2900 N; Tracts 5-6 are located two miles east of Clifton, Illinois in Section 7, off of County Road 2900 N and 2800 N; Tracts 7-8 are located nine miles west and three miles north of Clifton, Illinois in Section 18, at the intersection of County Road 100 E and 3300 N. Legal Description: Tracts 1-4: The East part of the Northeast Quarter (NE/4) and North Half (N/2) of Southeast Quarter (SE/4) and Southwest (SW/4) of Southeast Quarter (SE/4) and Southwest Quarter (SW/4) of Section 11, Township 28 North, Range 14 West, Iroquois County, Illinois (containing 365.19 acres +/-) Tracts 5-6: North Half (N/2) of North Half (N/2) of Northwest Quarter (NW/4), and Southeast Quarter (SE/4) of Southwest Quarter (SW/4) of Section 7, Township 28 North, Range 13 West, Iroquois County, Illinois (containing 77.55 acres +/-) Tracts 7-8: Southeast Quarter (SE/4) and South Half (S/2) of Northeast Quarter (NE/4) of Section 18, Township 29 North, Range 10 East, Iroquois County, Illinois (containing 240.0 acres +/-). Property Description: High-quality, well maintained farmland with good earning potential, located in excellent farming community. All farms have good road access and are within close proximity to grain markets. Improvements: Tract 8-6,000 bushel grain drying bin with new stirator system; and a corn crib in good condition. Tract 6: Tract 7: Tract 8: Buildings 35.93 acres 1.62 acres 37.55 acres 120.96 acres 2.47 acres 11.10 acres 134.53 acres 92.40 acres.97 acres 1.00 acres 11.10 acres 105.47 acres FSA Information: Tracts 1-4 Base Yield Corn 173.4 acres 106/133 Soybeans 173.1 acres 34/41 bushels Tracts 5-6 Base Yield Corn 36.8 acres 112/147 bushels Soybeans 36.0 acres 36/43 bushels Tracts 7-8 Base Yield Corn 112.7 acres 111/111 bushels Soybeans 92.9 acres 34/34 bushels Taxes: Tracts 1-2: $2,225.32 or $14.50 per acre Tracts 3-4: $2,700.20 or $13.10 per acre Tracts 5-6: $861.86 or $11.84 per acre Tracts 7-8: $2,781.14 or $11.81 per acre Farm Data: Tract 1: Tract 2: Tract 3: Tract 4: Tract 5: 79.40 acres.60 acres 80.00 acres 70.91 acres 3.14 acres 3.90 acres 77.95 acres 120.24 acres.80 acres 7.40 acres 128.44 acres 72.00 acres.40 acres 6.40 acres 78.80 acres 36.90 acres 3.10 acres 40.00 acres : Tracts 1-4 have 17.7 acres due to expire in September 2026, with an annual payment of $251.48 per acre Tracts 7-8 have 22.2 acres due to expire in September 2026, with an annual payment of $271.21 per acre Tract 1 and 2
Tract 1 Aerial Photo Tract 1 Soil Map Tract 2 Aerial Photo Tract 2 Soil Map Tracts 3 and 4
Tract 3 Aerial Photo Tract 3 Soil Map Tract 4 Aerial Photo Tract 4 Soil Map
Tract 5 Aerial Photo Tract 5 Soil Map Tract 5 Tract 6 Aerial Photo Tract 6 Soil Map
Tract 7 Aerial Photo Tract 7 Soil Map Tracts 7 and 8 Tract 8 Aerial Photo Tract 8 Soil Map
Tract 8 Tract 8 Property Location Map
AUCTION TERMS Minerals: All mineral rights will be retained by owners. Taxes: Real estate taxes for 2012 payable in 2013 will be paid by the Seller. All future taxes will be the responsibility of the Buyer(s). Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold on an AS IS-WHERE IS basis with no warranties or guarantees, either expressed or implied, by the Seller or Farmers National Company. Possession: Possession will be granted at closing on or before November 10, 2012. Earnest Payment: A 10% earnest money payment is required on the day of the auction. The payment may be in the form of cash, cashier s check, personal check, or company check. All funds will be deposited and held by Farmers National Company or a selected Title Company in their trust account. Contract and Title: Immediately upon conclusion of the auction, the high bidder(s) will enter into a real estate contract and deposit with Farmers National Company or a selected Title Company the required earnest payment. The Seller will provide an owner s policy of title insurance in the amount of the contract price. The cost of such title insurance will be that of the Seller s, while any escrow closing services will be shared by the Seller and Buyer(s). Sale is not contingent upon Buyer(s) financing. Closing: The sale closing is on or before November 10, 2012. The balance of the purchase price will be payable at closing in cash, guaranteed funds, or by wire transfer at the discretion Farmers National Company or a selected Title Company. Survey: At the Seller s option, the Seller shall provide a property survey sufficient to provide good title where there is not an existing legal or where new boundaries are created. The Seller will pay the survey cost. Final contract prices will be adjusted to reflect any difference between the advertised and actual surveyed acres. Sale Method: The real estate will be offered in eight individual tracts, any combination, and as a total unit. Bids on the tracts and the total unit will compete. All bids are open for advancement until the Auctioneer announces that the real estate is sold or that the bidding is closed. Bidding increments are solely at the discretion of the Auctioneer. No absentee or telephone bids will be accepted without prior approval of Farmers National Company and Seller. All decisions of the Auctioneer are final. Approval of Bids: Final sale is subject to the Seller s approval or rejection. Agency: Farmers National Company and its representatives are acting as Agents of the Seller. Announcements: Information provided herein was obtained from sources deemed reliable, but neither the Farmers National Company nor the Seller makes any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, its condition, and to rely on their own conclusions. All sketches, dimensions, and acreage figures are approximate or more or less. Any announcements made auction day by Farmers National Company will take precedence over any previous printed materials or oral statements. Farmers National Company and Seller reserve the right to preclude any person from bidding if there is any question as to the person s credentials or fitness to bid. Seller: Oklahoma State University Foundation Disclaimer: Farmers National Company is providing Internet pre-auction and live bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Farmers National Company or anyone else if the Internet service fails to work correctly before or during the live auction. Farmers National Company will not be responsible for any missed bids from any source. Farmers National Company reserves the right to withdraw or recatalog items in this auction.