153 +/- ACRES PHILLIPS COUNTY LAND AUCTION
Thursday November 19, 2020, 10:00 A.M.
AUCTION LOCATION: Huck Boyd Community Center, 860 Park Street, Phillipsburg, KS
LEGAL DESCRIPTION:
The Southeast Quarter (SE1/4) of Section Thirty-Six (36), Township One (1) South, Range Seventeen (17) West of the Sixth P.M., Phillips County, Kansas being 153.26 acres more or less.
LAND LOCATION: From Agra, KS – 10 miles North on East 1100 RD to East Hunter RD., 3 miles West to East 800 RD, then 1 mile North to the Southeast corner of the property.
GENERAL DESCRIPTION: This tract of land has approximately 83.71 acres of cultivation and 65.11 acres of pastureland with the balance being wooded area. On the cropland, all acres will be idle. The cropland is primarily class II and IV, Holdrege and Uly Silt Loam and have proven to be very productive over the years. The pasture has excellent native grasses and the property has good fences. It has a pond to service the property.
FSA INFORMATION: This land has approximately 83.71 acres of cropland. It carries a 35.45 acre wheat base W/34 bu. PLC yield, a 15.57 acre grain sorghum base W/75 bu. PLC Yield and .92 acre corn base W/48 bu. PLC yield.
MINERALS: Seller shall convey 100% of the seller’s minerals to the purchaser. All minerals are believed to be intact.
POSSESSION: March 1, 2021.
TAXES: Seller shall pay all the 2020 taxes and prior years’ taxes, if any. The 2021 and subsequent years taxes shall be the responsibility of the buyer. 2019 taxes were $1,197.28.
TERMS, TITLE INSURANCE AND CLOSING: Ten Percent (10%) down day of the sale, (15%) due on or before December 30th, 2020. The balance of the purchase price will be Seller financed over a period of 10 years in 20 semi-annual installment payments. The first such semi-annual installment payment shall be due May 1, 2021, on the first day of November and May thereafter until the balance of the purchase price is paid in full. Interest shall accrue at the rate of 3.25% per annum from the date of closing.
The parties hereby designate the First National Bank and Trust, Phillipsburg, Kansas as escrow agent for this transaction. The deed referred to in paragraph 9 shall be held by the escrow agent who shall deliver the deed to the Buyer upon payment of the purchase price in full and all interest and other payments required by the Buyer. The escrow agent shall compute interest payments from the date of closing to the date of payment. The escrow agent’s calculation of accrued interest shall be binding upon both of the parties.
The Seller shall pay the escrow agent’s set-up fee and the Buyer shall pay the escrow agent’s semi-annual maintenance fees together with each installment payment. The Buyer may not pre-pay the balance due on this contract without the prior written consent of the Seller.
The Buyer shall file an Affidavit of Equitable Interest in the office of the Register of Deeds, Phillips County, Kansas to evidence the Buyer’s contractual rights with respect to the above described real property.
The provisions of this section regarding financing shall supersede any other conflicting provisions of this agreement. Owner’s policy and closing expense will be shared 50/50 between the buyer and sellers.
The buyer of this property has the first option to rent an additional 22.7 acres of cropland from the seller adjoining to the South.
CONDITIONS: All acreages are considered to be approximate and are deemed to be from reliable county & FSA sources. Buyers are encouraged to verify details and view properties prior to the auction. Bidding increments are solely at the discretion of the auctioneer. The auctioneer will not accept absentee or telephone bids at the auction without prior approval. Announcements made day of sale shall take precedence over printed material.
SELLERS: Gary Kempt
Come Early for Refreshments & to Register for Bid Number
Cody Miller – Broker/Auctioneer – 785-533-3300
