Special Terms
Internet bidders will need to register with the auction company 2 or more days prior to the auction event. Wiggins Auctioneers require a bank letter of guarantee and the contact information for the registering bidders financial institution. Bank Letter of Guarantee can be faxed to Wiggins Auctioneers, LLC at 580-237-4915.
Specific requirements can be waived for individuals that are already established customers with Wiggins Auctioneers L.L.C., by contacting the auction company. Neither the auction company nor the seller(s) are responsible for loss of internet signal.
A 10% down payment will be required from any winning bidder, immediately following the auction event. These funds shall be wire transferred to Wiggins Auctioneers Trust Account at the Central National Bank and Trust Company in Enid, OK. Specific routing numbers and details will be given to the winning bidder immediately following the auction event. A 1% buyers premium will be added to the high bid to establish the total purchase price. Buyer shall provide the balance of the full purchase price and Seller shall provide merchantable title to the Buyer at the time of closing, within approximately 30 days, according to the Terms and Conditions of the purchase contract.
Any information contained in this site is subject to the terms and conditions of the PURCHASE CONTRACT. Contact the Auction Company for a copy of the purchase contract prior to auction. Any announcements made the day of the auction supersede all previous advertising Potential Buyers are encouraged to inspect the property prior to the auction, and to contact Wiggins Auctioneers with any questions related to the auction. All information is taken from sources believed to be reliable; however, no guarantee is made by the auction company or it's employers. It is the buyers responsibility to satisfy themselves as to acreages, crop bases, etc.. prior to the day of auction.
This sale is subject to confirmation by the seller. Seller expressly reserves the right to accept or reject any and all bids at the auction.
Order of Auction: The tracts will be offered in the order as listed. The Auctioneer will recognize and announce the final bid on each tract. All final bid prices are subject to the sellers acceptance or rejection at the conclusion of the auction.
This Property is being sold AS IS.
AUCTION DAY ANNOUNCEMENTS
Clayton & Gail Kehnemund &
Olive & Bill Bowen
Garfield Co., OK/January 26, 2012
• Legal Description: Surface rights only in and to Lots Six (6) and Seven (7) of the Southwest Quarter (SW/4), of Section Six (6), Township Twenty-two (22) North, Range Eight (8) W.I.M., Garfield County, Oklahoma, containing 74.73 acres more or less.
• Personal Property: The Tenant is Byron Hobson. His phone number is 580-796-2588. Any chattel property, including, but not limited to, any livestock, livestock equipment, hay, electric fencing, or farm equipment is the property of the Tennant and may be removed prior to the time of possession.
• Crop: None of the 2011-2012 harvested wheat crop nor any F.S.A. payment for same is being sold or transferred.
• F.S.A. Information: According to the F.S.A. there are 56.5 acres of cropland with a 46.1 acre wheat base and a 44 bushel per acre yield. Note: This information is provided as a courtesy of the Garfield County F.S.A. and is subject to change without notice.
• Soil Types: Principle soil types of the cropland are Port silt loam and Grant silt loam, both Class II; with lesser amounts of Grant silt loam and Kingfisher-Ironmound complex, Classes III and IV.
• Minerals: All of the Seller’s interest in an undivided one-half of the minerals in and to Lots 6 &7 of 6-22-8 will be auctioned immediately after the surface.
• Taxes: The 2011 property taxes were approximately $238.00 and have been paid by the Seller. The 2012 taxes will be prorated to closing.
• Possession: Possession will be given upon payment in full of the purchase price and transfer of title subject to the agricultural lease which expires upon completion of the harvest of the 2011-2012 wheat crop or July 15, 2012 whichever is later.
• Terms: A 10% down payment will be required at the auction. You may use a personal check. Buyer agrees to purchase title as shown in the attached title insurance commitment, and shall have ten days from the delivery of title insurance commitment to seek legal counsel to review the title insurance commitment if desired, and to furnish additional title objections, if any. Title will transfer by Warranty Deed. Seller will make available to Buyer and Buyer may purchase an owner’s title insurance policy at closing. Seller shall pay the cost for the initial abstracting, Seller’s title opinion, Commitment for title insurance, gap check and title curative cost, if any. Buyer shall pay any applicable Buyer’s title opinion or attorney’s fees; title insurance premium and final abstracting costs.
• Closing: Closing is to be on or by February 27, 2012 in accordance with the attached real estate purchase contract. The Closing Agent is Guarantee Abstract Company. The phone number is 580-237-5537. The closing/escrow fee is $300.00 and is to be paid ½ by the Buyer and ½ by the Seller. Closing is to be at the offices of Guarantee Abstract Company, 217 W. Broadway, Enid, Oklahoma, unless parties agree to another place of closing.
• Survey: Seller is not obligated to furnish Buyer a survey of the subject property; if Buyer desires a survey, it shall be at Buyer’s sole cost.
AUCTION DAY ANNOUNCEMENTS
Clayton Kehnemund &
Olive Kehnemund Bowen
MINERALS
January 26, 2012
• Legal Description: All of the present interests ?Two-thirds (2/3)? of Clayton Stephen Kehnemund and Olive Marie Kehnemund Duncan Bowen plus any future interests of Clayton Stephen Kehnemund and Olive Marie Kehnemund Duncan Bowen based upon the life estate of Dorothy L. Kehnemund, and subject to any reduction of interest in the event Clayton Stephen Kehnemund or Olive Marie Kehnemund Duncan Bowen should predecease Dorothy L. Kehnemund, in and to an undivided one-half (37.365 acres) of the minerals and mineral rights in, under, and to lots Six (6) and Seven (7) of Section Six (6), Township Twenty-two (22) North, Range Eight (8) W.I.M., Garfield County, Oklahoma. (See attached Exhibit “A”)
• Current Production: The Kehnemund #6-1 completed in February 1979 as an oil and gas well producing from the Mississippi zone.
• Royalty Interest: .0301856
• Royalty Income: Seller’s gross revenue for 2011 was approx. _____.
• Operator: BRG Production, 7134 South Yale Ave., Suite 600, Tulsa, OK, 74136 PH: 918-496-2626
• Terms: A 10% down payment will be required at the auction. You may use a personal check. Buyer will have 15 days within which to examine the county records and satisfy himself/herself as to title. Title will transfer by Quit Claim Mineral Deed.
• Closing: Closing is to be on or by February 27, 2012. The Closing Agent is Guarantee Abstract Company. The phone number is 580-237-5537. The closing/escrow fee is $300.00 and is to be paid ½ by the Buyer and ½ by the Seller. Closing is to be at the offices of Guarantee Abstract Company, 217 W. Broadway, Enid, Oklahoma, unless parties agree to another place of closing.
EXHIBIT “A”
Under Article V of the Last Will and Testament, all mineral interests owned by the deceased are distributed in equal shares to Dorothy L. Kehnemund, Clayton S. Kehnemund and Olive Marie Bowen. Upon the death of any one of these parties, the mineral interest is to be divided in equally to the survivors. On the death of one of the survivors, the minerals shall be owned by the survivor for the remainder of his/her lifetime. On the death of the all three, Dorothy L. Kehnemund, Clayton S. Kehnemund and Olive Marie Bowen, the mineral interest shall revert back to the then owner of the surface interest in the real properties respectively. The total income from oil and gas royalties collected by the estate is $41,766.80
80 +/- Acres * Land & Minerals
Lahoma Area * Garfield County, OK
Date: Thursday, January 26, 2012
Time: 10:00 A.M.
Location: Meeting Room #1 in the Pavilion of the Chisholm Trail Expo Center, 111 West Purdue, Enid, OK
Seller: Clayton and Gail Kehnemund AND Olive and Bill Bowen
Auction Manager: Perry Wiggins * 580-541-7942
This highly productive 80 +/- acre farm is located 1 mile west of Lahoma on U.S. 412, then 1 mile north on the Garfield/Major County line. According to the F.S.A. there are 56.5 acres of cropland with a 46.1 wheat base and 44 bushels per acre yield. Principle soil types of the cropland are Port silt loam and Grant silt loam, both Class II; with lesser amounts of Grant silt loam and Kingfisher-Ironmound complex, Classes III and IV. The balance of the land is in grass and timber along the banks of Turkey Creek providing excellent shelter for livestock, and outstanding wildlife habitat and outdoor recreation. Access is by good county road just a mile from U.S. 412. It is only 10-12 minutes from Enid’s west side and is an outstanding location for a rural home. This is an excellent opportunity to invest in land that will provide a nice return on your investment and an outstanding hedge against inflation. Can’t attend? Log on to www.proxibid.com/wiggins for real time internet bidding. Internet bidders need to register with the auction company at least 2 days prior to the auction. Legal Description: W/2 SW/4 of 6-22-8, Garfield Co., OK. Minerals: The Seller’s life estate in the minerals in and to the W/2 of SW/4 of 6-22-8 will be auctioned immediately after the surface. Crop: Does not sell. Taxes: 2011 taxes are $238.00 and will be paid by the Seller. The 2012 taxes are to be prorated to closing. Possession: Will be given upon payment in full of the purchase price and transfer of title subject to the agricultural lease which expires upon completion of the harvest of the 2011-2012 wheat crop or June 30, 2012 whichever is later. Terms: 10% down day of the auction with the balance due upon delivery of merchantable title. Any announcements made the day of auction take precedence.
Wiggins Auctioneers: One Grand Center, 201 N. Grand, Ste 600, Enid, Oklahoma 73701
Phone: (580) 233-3066 or (800) 375-3773
info@wigginsauctioneers.com
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