Method and Terms

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Lot #0  (Sale Order: 1 of 6)  
Bidding will begin on  Friday, Oct 2, 2020 | 1:00 PM   Central
No bids placed USD 0.00
 
Description Terms of Sale
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LOCATION & GENERAL INFORMATION

All tracts are located in Cass County, Illinois. Tracts 1 & 2 are located in Section 2 of Arenzville Township and Section 35 of Bluff Springs Township. Tract 3 is located in Section 27 of Bluff Springs Township. Be watching for pre sale directional signs for Tracts 1, 2 & 3 along Rte. 125 west of Virginia, IL.

Tracts 4 & 5 are located in Section 2 of Panther Creek Township (on Cty. Hwy. 2). Be watching for pre sale directional signs for Tracts 4 & 5 along Oakford Rd. (Cty. Hwy. 12) east of Chandlerville, IL. These two tracts are ideally located near the Jim Edgar, Panther Creek State Fish and Wildlife Area.

The individual tracts represent productive tillable farmland, pasture and timber, hunting/recreational land, and a tremendous grain handling and storage facility.

All 5 tracts will sell at unreserved auction, subject only to court approval. All tracts sell subject to the remainder of the 2020 farm tenancy with a local operator. All tracts sell with full 2021 crop year farming rights. Full possession will be granted at closing on the grain facility located on Tract 5. All 5 tracts have recently been surveyed. Final surveyed acres will be used to calculate the final contract price. Anyone wishing to inspect the properties will need to contact Sullivan Auctioneers.

Sullivan Auctioneers' Note: The home located at the south border of Tract 4 is not included in this auction. The driveway leading to this home is NOT access to Tract 4. The barns, sheds, shop and other structures are included with Tract 4. No one is allowed in any building without Sullivan Auctioneers' representative being present. The access to Tract 4 and the buildings on Tract 4 is the far west entrance.

POTENTIAL BIDDER QUALIFICATIONS

Each of Sullivan Auctioneers, LLC and UMB Bank, N. A., Secured Lender, reserves the right to accept or reject any potential bidder(s) and, further, reserves the right to require from any potential bidder a letter of credit or other similar evidence of immediately available funding of the bidder's purchase.

METHOD & TERMS

The farm will be sold in 5 individual tracts, all of which have recently been surveyed. Tracts 1 - 4 will sell on a price per acre basis, with the surveyed acres being used to calculate the individual contract prices. Tract 5, which includes the grain handling and storage facility, will sell last and for a lump sum or total dollar amount, and not on a price per acre basis. All tracts will be sold individually. After all tracts have been sold the farm will NOT be offered in its entirety. All sales will be final.

Ten (10%) percent of the bid price to be due on the day of sale with the balance due at closing in approximately 30 days, or otherwise ordered by the court. The successful bidder(s) shall receive receipt of sale, and a certificate of sale upon payment in full. The sale shall be subject to court approval. The 2020 real estate taxes, which are due and payable in 2021, will be paid by the seller as the seller will retain the 2020 crop income.  Possession will be given at the time of closing subject only to the remainder of the farm tenancy agreement on all tillable acres. Full possession will be granted at closing on the grain facility located on Tract 5.

All announcements sale day shall take precedence over any prior advertising either written or oral. The information in this brochure is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to the property. This real estate is being sold "as is".

Cass County, Illinois Circuit Court of the Eighth Judicial Circuit
Case No. 2018-CH-5

UMB Bank, N. A., Secured Lender

Representing Attorney:
Thomas W. Hayde, Jr. #6288227
Eric Peterson #6330989
Spencer Fane LLP
1 North Brentwood Boulevard, Suite 1000
St. Louis, MO 63105
Phone: 314-863-7733

 



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This item is part of Cass County, IL Land Auction - UMB Bank
 Friday, Oct 2, 2020 | 1:00 PM  Central
 
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Method and Terms
Method and Terms
Lot number: 0
Seller: Sullivan Auctioneers, LLC
Event: Cass County, IL Land Auction - UMB Bank
Ends: Friday, October 2 | 1:00 PM  Central

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