29-020 Lake Jordan Overlook Sealed Bid Wetumpka, AL OFFERED FOR SALE BY SEALED BID BID SUBMISSION DEADLINE: Thursday, September 4, 2014 at 4:00 P.M. 29-020 Lake Jordan Overlook is offered in three parcels shown above and combinations. Tract Acreage and Water Frontage are Not Guaranteed: The acreage & water frontage listed herein are based upon measurements of aerial photographs with the ArcGIS program. The Seller and Broker are not warranting the acreage or land usage. Each prospective bidder should make his/her own determination of the suitability of the property for his intended use. VISIT OUR WEBSITE OFTEN FOR MORE INFORMATION & MAPS www.greatsouthernland.com Enter 29-020 in Tract ID to go to property Location Miles Time Wind Creek Casino, Wetumpka, AL 20 29 min Bass Pro Shop, Prattville 26 36 min Clanton, AL, I 65 Exit 205 14 22 min Prattville, AL, I 65 Exit 186 19 27 min Montgomery, Northern Blvd. & I 65 33 39 min Birmingham, I 459 & I 65 (Exit 250) 59 60 min
Due Diligence - The inspection of the property and matters affecting the property, i.e., quantity and quality of river, lake or creek frontage, acreage, zoning, flood zones, assessments, legal documents, soils, timber volumes and values, encroachments, easements, environmental hazards, utilities, all matters of title whatsoever, etc. are the responsibility of the Purchaser. Usually a Purchaser or a broker representing the Purchaser performs the Due Diligence for the Purchaser. As selling agent representing the Sellers, Great Southern Land, LLC will be glad to assist the Purchaser in gathering property data, but each Purchaser must perform his own Due Diligence prior to the Private Bid Opening. The property is sold where is, as is with conveyance by statutory warranty deed. Lake Jordan Overlook Sealed Bid Page 2
29-020 Lake Jordan Overlook Sealed Bid Wetumpka, AL OFFERED BY SEALED BID BID SUBMISSION DEADLINE IS 4:00 PM, THURSDAY, SEPTEMBER 4, 2014 For an appointment to view the property call: Fletcher Majors, ALC Broker 334-472-0029 Direct 334-328-9278 Cell Fletcher@GreatSouthernLand.com Bill Atkins Agent 334-472-0026 Direct 334-399-9397 Cell batkins@knology.net PROSPECTIVE PURCHASERS Eric Leisy Agent 334-472-0028 Direct 334-657-6707 Cell Eric@GreatSouthernLand.com Great Southern Land, L.L.C. ( GSL ) in Wetumpka (Seller s Agent), is offering for sale a tract of land (3 parcels of land) with frontage on Lake Jordan (Holtville Side) in Northern Elmore County, Alabama. 3 parcels: 92.5 acres, 84 acres and 88.8 acres Potential uses are waterfront development, mineral sales, timber production, hunting and fishing 265 acres located 20 miles from new $250 million 20 story Wind Creek Casino & Hotel New casino resort includes a 20-story hotel tower with 285 luxuriously-appointed rooms and suites, all of which overlooks the Coosa River. The property features a 90,000 square foot gaming floor with more than 2,500 electronic gaming machines, a resort pool, and entertainment rooms suitable for large parties and corporate events. Approximately 4,830 feet of water frontage INFORMATION CONCERNING AGENCY RELATIONSHIPS Great Southern Land, LLC offers a 3% Fee to a Buyer s Broker or Agent representing a Buyer. We believe that a Broker working with a buyer should represent the Buyer, perform due diligence for the buyer, and assist the Buyer in determining a fair offering price for the property. Therefore, our company policy is to only offer compensation to a co-operating agent, the selling company, acting as an agent of the Buyer. The Buyer represented by a Buyer s Agent should fill in the Buyer Agent s Company name and initial below as well as fill out page 5. Agency Disclosure: The listing company is: GREAT SOUTHERN LAND, L.L.C. The listing company is (two blocks may be checked): X An agent of the Seller An agent of the Buyer An agent of both the Seller and Buyer and is acting as a limited consensual dual agent Assisting the buyer seller as a transaction broker The selling company is: (N/A if blank) The selling company is (two blocks may be checked): An agent of the Seller X An agent of the Buyer An agent of both the Seller and Buyer and is acting as a limited consensual dual agent Assisting the buyer seller as a transaction broker Seller s Initials: Buyer s Initials: Lake Jordan Overlook Sealed Bid Page 3
THIS INVITATION TO BID AND THE LEGAL DESCRIPTIONS AND TITLE BINDER WHICH ARE AVAILABLE UPON REQUEST ARE LEGAL DOCUMENTS. IF YOU DO NOT UNDERSTAND THEM SEEK LEGAL COUNSEL. TERMS AND CONDITIONS OF THIS INVITATION TO BID FOLLOW A. BID DEADLINE: Bids will be opened in private after the deadline for submitting bids. The bid submission deadline is Thursday, September 4, 2014 at 4:00 PM. Bids can be mailed to Great Southern Land, LLC, 4027 U.S. Highway 231, Wetumpka, AL 36093 or delivered in person. Any bids mailed must be received by the bid submission deadline or will not be considered. Since an earnest money deposit in the amount of 10% is required with the bid, fax bids and scanned email bids will be accepted only if the bidder furnishes earnest money or Proof of Funds before the bid deadline. B. BID FORM AND ACCEPTANCE: Each bid shall be submitted on the enclosed bid form and signed by the bidder on the bid forms furnished as part of this document. Please submit the bid form in a sealed envelope marked LAKE JORDAN OVERLOOK SEALED BID on the outside. Each bid shall constitute an offer to purchase in accordance with the terms and conditions of this invitation and the bid form. The Seller reserves the right to reject any or all bids, and the right to waive any defects in any bid. The bidder submitting the successful bid will be notified of acceptance on or before 5:00 P.M. on Tuesday, September 9, 2014. Unsuccessful bidders will be notified as soon as possible, but no later than 5:00 PM on Friday, September 12, 2014. After acceptance of the bid, the Seller will sign the acceptance of the offer to purchase on this Invitation to Bid. Bidders must submit an earnest money check in the amount of ten percent (10%) of the total bid amount with each bid with the balance due in cashier s or certified check or wire transfer at closing. The bid deposit must be a cashier s or certified check and should be made payable to: "Great Southern Land, LLC Escrow Account." Company or personal checks may be accepted as a bid deposit only with prior approval of the Seller s Agent. C. BUYER S PREMIUM: A 5% Buyer s Premium will be added to the winning bid price to arrive at the total Contract Price. Example: A bidder submitting a bid of $1,000,000 would be required to pay a total Contract Price of $1,050,000 ($1,000,000 Bid plus the $50,000 Buyer s Premium). D. TERMS OF CLOSING: The Seller will convey or cause to be conveyed to Purchaser good title to the premises by a Statutory Warranty Deed ("Deed") good and sufficient to convey unto Purchaser all of Seller s right, title and interest to the Premises, subject only to exceptions (including title company standard general exceptions) found in the owner s title policy binder furnished by Seller and available for inspection upon request. Bidders interested in obtaining an owner s title policy will pay the premium on the policy. The Seller will prorate the taxes as of the date of closing and pay for the preparation of the deed, and the Seller s real estate commission. Any future property taxes including rollback taxes under Title 40-7-25.3 of the Code of Alabama 1975 will be the responsibility of the Purchaser. Recording fees, title policy fee, and all other closing costs will be at the expense of the Purchaser. E. CLOSING DATE AND LOCATION: The successful Purchaser(s) will be required to close the purchase of the 29-020 Lake Jordan Overlook property and pay the balance of the purchase price on or before Thursday, October 9, 2014. The sale(s) will be closed in Montgomery, Alabama at the office of attorney James Edwards, Esq., Balch & Bingham LLP, 105 Tallapoosa Street, Suite 200, Montgomery, AL 36104 unless otherwise agreed upon by the Seller and Purchaser. F. OFFER IS BINDING: Any offer accepted by the Seller shall be binding on the Seller, the Purchaser, and the heirs, legal representatives, and assigns of each. G. SURVEY: 29-020 Lake Jordan Overlook will be sold by a metes and bounds legal description from an existing survey. If a Purchaser requires a new survey it will be at the expense of the Purchaser and must not delay the closing. The 29-020 Lake Jordan Overlook Tract is offered by parcels with approximate boundary lines readily discernible on the ground. If the property sells in parcels, the division lines between the parcels will be surveyed at the cost of the Seller. The exterior boundary lines and the low water mark of the Coosa River will not be surveyed. Lake Jordan Overlook Sealed Bid Page 4 Bid Deadline: Thursday September 4, 2014-4:00 PM
H. AS-IS CONDITION: Purchaser has inspected the Premises and understands that the Premises are being sold "as is" and in their present condition without warranty or representation of any kind, express or implied, by Seller or any agent or Broker of Seller, and Purchaser acknowledges that Seller has not agreed to perform any work on or about the Premises as a condition to Purchaser's purchase of same. Purchaser assumes all risks with respect to the physical condition of the Premises and the income and expenses attributable thereto. I. DEFAULT: In the event the Purchaser fails to carry out and perform the terms of this agreement, the earnest money (bid deposit) as shown herein shall be forfeited as liquidated damages at the option of the Seller, provided that the Seller agrees to the cancellation of this contract, or Seller may elect to pursue any other legal remedies under Alabama law. J. WARRANTIES: No representations, warranties, covenants, agreements and other obligations of Seller shall survive the closing of this transaction, and no action based thereon shall be commenced after the closing of this transaction. The total acreage, parcel acreage, waterfront footage, location, and the land use estimates are not warranted by the Seller or Seller s Agents. K. LUMP SUM BID: Bids shall be on a lump sum basis and not on a per acre basis. Per acre bids will not be considered. If a Purchaser elects to have the property surveyed and the surveyed acreage varies more than 2% from the advertised acres the purchase price will be prorated, up or down, for the difference in surveyed acreage and advertised acreage at the per acre price calculated from the bid price and advertised acres. (Bid Price/Advertised Acres) L. SHOWING INSTRUCTIONS: Agents will be available for scheduling showing trips and discussing the property by appointment. To view additional plats, flood plain maps, topographic maps, and aerial photographs, or to make arrangements to tour the sale areas, please contact the Seller s Agents listed at the top of page 2. For a property package with additional information contact Great Southern Land, LLC. M. MATTERS OF TITLE: Seller will furnish an owner s title policy binder evidencing their ownership interest for each tract. Prospective Purchasers should review this document for information concerning ownership rights including, but not limited to, access or lack thereof, easements, minerals, and other exceptions. The successful Purchaser may, at his expense, purchase an owner s title policy by paying the premium. This title policy binder is available for review from Great Southern Land, LLC. N. MINERALS: Seller shall transfer any mineral interest he owns, if any, without warranty; restated, the conveyance from Seller to Purchaser shall transfer any minerals owned with an exception for any prior reservation of minerals, and Seller makes no representation regarding Seller s ownership of the minerals. Lake Jordan Overlook Sealed Bid Page 5
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BID FORM TO BE SUBMITTED TO: Great Southern Land, LLC 4027 U.S. Highway 231 Wetumpka, AL 36093 Bid(s) on 29-020 Lake Jordan Overlook BID SUBMISSION DEADLINE IS THURSDAY, SEPTEMBER 4, 2014 AT 4:00 PM The undersigned hereby agrees to purchase the parcel(s) or combination of parcels of real estate listed below which are offered for sale by this invitation for the amount entered below. Accompanying this bid is an earnest money deposit in the amount of 10% of the undersigned's bid, which will be applied to the purchase price of the property if the bid is accepted. The successful bidder will be notified of the acceptance on or before 5:00 PM on Tuesday, September 9, 2014. Unsuccessful bidders will be notified as soon as possible but no later than 5:00 PM on Friday, September 12, 2014, and the bid deposit will be returned, by regular mail, without interest, promptly thereafter. The undersigned also certifies that he/she received a copy of the "INVITATION TO BID and has been offered an opportunity to review the Legal Description(s) and Owner s Title Policy Binder of the property. The undersigned understands and agrees to the terms and conditions found in those documents and does hereby incorporate by reference those terms and conditions in this offer to purchase. The undersigned further certifies that he/she is aware that the acreage values listed herein are not warranted by the Seller or Seller s Agent. Purchaser also represents that he has dealt with no other broker in connection with this transaction unless designated below, and to Purchaser s knowledge no other party claims a commission on the sale of this property. Purchaser shall indemnify Seller for any Broker claim not disclosed by Purchaser on this instrument below. The undersigned hereby agrees to purchase the real estate offered for sale by this Invitation to Bid for the dollar amount entered below (plus a 5% Buyer s Premium) and in accordance with the terms of the Invitation to Bid. Enter Bid Amount beside each parcel or combination: $ North (+/- 92.5 acres) $ Central (+/- 84.0 acres) $ South (+/- 88.8 acres) $ North & Central (+/- 176.5 acres) $ Central & South (+/- 172.8 acres) $ Entire Tract (+/- 265.4 acres) (SHOWN ON NEXT PAGE) BIDDER'S NAME AND ADDRESS: (Type or print please) Company: Name: Address: BIDDER'S BROKER (If any): (Type or print please) Company: Name: Address: Phone: Fax: Phone: Fax: E-mail: E-mail: BIDDER S SIGNATURE: BROKER S SIGNATURE: Lake Jordan Overlook Sealed Bid Page 7
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