Farm #2

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. Farm #1: 159 +/- acres located approximately 1/2 mile north of the Homestead Elevator. From Okeene, go 4 miles west on S.H. 51 and 3 miles north. According to the F.S.A. there are 118.1 acres of cropland with a full wheat base and 33 bu. per acre yield. Principle soil type of the cropland is Kirkland silt loam, Class II with a lesser amt of McClain silty clay loam, Class I. The balance of the land is in grass. Improvements include an older home, outbuildings, and fences. Farm has excellent location on blacktop just a half mile from the grain elevator. Legal: S/2 of SW/4 and Lots 7 & 8 in Blaine Co., and Lots 1 & 2 in Major Co., all in Twp 20N, R11W. Farm #2: 160 +/- acres located from the southwest corner of Farm #1, 1 mile west and 1/2 mile north. According to the F.S.A., there are 107.4 acres of cropland with a full base and 33 bu. per acre yield. Principle soil types of the cropland are Canadian fine sandy loam, Classes I and II with a lesser amt of Reinach very fine sand, Class I. The balance of the land is in grass, timber, and creek. Improvements include fences. Access is by good county road. Legal: NW/4 of 32-20-11, Major Co., OK GENERAL STATEMENTS These are good small grain/livestock farms situated on good roads very near a grain terminal and with good access to all surrounding communities. Taxes: will be prorated to closing. Crop: 1/3 (the landlord’s share) of the 2010-2011 wheat crop sells w/the surface. Possession: will be given at closing subject to the current agricultural lease which expires following completion of the harvest of the 2011-2012 wheat crop. Minerals: will be auctioned after the auction of the land. Terms: 10% down the day of the auction with balance due on delivery of merchantable title. MINERALS Tract #1: (159 +/- acres currently producing) All of the minerals in and to Farm #1 described above. Seller’s net revenue for 2010 was approx. $2,856.11. Seller’s net revenue Jan. through June, 2011 was approx. $1,081.43. Tract #2: (160 +/- acres currently producing) All of the minerals in and to Farm #2 described above. Seller’s net revenue for 2010 was approx. $4,737.15. Seller’s net revenue Jan. through June, 2011 was $1,346.07. Sellers of the Above Land and Minerals: Beth & Randy Rider Tract #3: 40 +/- mineral acres located 5 1/2 miles east and 4 1/2 miles south of Ames. Minerals are currently not producing and are open for lease. Legal: An undivided 1/2 of the minerals in and to the W/2 of the SW/4 of 20-20-8, Garfield Co., OK Sellers: Larry & Carolyn Maddox Tract #4: 160 +/- mineral acres located approximately 14 miles west of Fairview on U.S. 60, then 1/2 mile south. There is some production that appears to be from one producing well in the section (the Classen #1-17 in the C of the NW/4). Legal: SE/4 17-20-14, Major Co., OK. Seller: Charles Mike McCaslin Terms for Mineral Interests: 10% down day of auction. Buyers will have 15 days to research records and satisfy themselves as to title. Balance due at closing. Announcements made day of auction take precedence over advertising. AUCTION DAY ANNOUNCEMENTS Beth & Randy Rider October 13, 2011 /Blaine & Major Co., OK • Legal Descriptions: Farm #1: Lots 7 & 8 & the S/2 of the SW/4 of Sec. 33, Twp 20 N, R 11 W.I.M., Blaine Co., OK AND Lots 1 & 2 of Sec. 33, Twp 20 N, R 11 W.I.M. Major Co., OK Farm #2: The NW/4 of Sec. 32, Twp 20 N, R 11 W.I.M., Major Co., OK • Personal Property: The tenant is the Thomas L. Outhier Family Trust, Marva Nell Outhier, Trustee. Her phone number is 580-822-3611 or cell 580-822-5209. Any livestock, livestock equipment, gates, corral panels, livestock feeders, stock tanks, hay, electric fencing, or farm equipment is the property of the Tenant and may be removed prior to the time of possession. • Crop: 1/3 (the landlord’s share) of the 2011-2012 wheat crop sells with the surface and all of the pasture cash rent for the 2011-2012 crop year sell with the land. The pasture cash rent for Farm #2 is $262.50 for Jan1, 2012 to the end of the lease term and will transfer to the Buyer. • F.S.A. Information: According to the Major County F.S.A. Farm #1: there are approx. 118.1 acres of cropland with a full wheat base & a 33 bu. per acre yield. Farm #2: there are 107.4 acres of cropland with a full wheat base & a 33 bu. per acre yield. Note: This information is provided as a courtesy of the Major County F.S.A. and is subject to change without notice. • Soil Types of the Cropland: Farm #1: Kirkland silt loam, Class II with a lesser amount of McClain silty clay loam, Class I Farm #2: Canadian fine sandy loam, Classes I & II with a lesser amount of Reinach very fine sand Class I • Minerals: Will be auctioned after the surface of the land. No minerals are being sold or transferred with the surface and the abstracts shall exclude the mineral documents. • Taxes: The 2010 taxes were approximately as follows and have been paid by the Seller. Farm #1: $471.00 Farm #2: $524.00 The 2011 taxes will be prorated to the date of closing. • Possession: Possession of each tract will be given upon payment in full of the purchase price and transfer of title, subject to the existing agricultural lease which expires upon completion of the harvest of the 2011-2012 wheat crop or July 1, 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 November 14, 2011, in accordance with the attached real estate purchase contract. The Closing Agent is Lala Young of Fairview Abstract Company. Her phone number is 580-227-4524. 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 Fairview Abstract Company, 116 E. Broadway, Fairview, OK 73737, unless parties agree to another place of closing. • Survey: Seller is not obligated to furnish Buyer(s) a survey of the subject properties; if Buyer(s) desire a survey, it shall be at Buyer(s)’s sole cost. AUCTION DAY ANNOUNCEMENTS MINERALS – Tract #1 Beth & Randy Rider October 13, 2011 • Legal Description: All of the minerals and mineral interest in and to Lots 7 & 8 & the S/2 of the SW/4 of Sec. 33, Twp 20 N, R 11 W.I.M., Blaine Co., OK AND Lots 1 & 2 of Sec. 33, Twp 20 N, R 11 W.I.M. Major Co., OK • Current Production: Appears to be from the C.O. Metzler 1-33 located in the center of the NE/4 of the NW/4 of 33-20-11 W.I.M., Major Co., OK • January–June 2011 Royalty Income: Jan. $154.98; Feb. $212.41; March $177.26; April $163.93; May $176.75; June $196.10 • Operator: Lynn Operating Inc. Their phone number is 405-375-6065 • Additional Wells in Section: Mary #1 located in the center of the SW/4 of the SW/4 of 33-20-11 and the Reames #1-33 located in the SE/4 of 33-20-11. We have no record of production from these wells for 2011. • Terms: A 10% down payment will be required at the auction. You may use a personal check. Buyer will have fifteen (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 November 14, 2011. The Closing Agent is Fairview Abstract Company. The phone number is 580-227-4524. 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 Fairview Abstract Company, 116 E. Broadway, Fairview, OK 73737, unless parties agree to another place of closing. AUCTION DAY ANNOUNCEMENTS MINERALS – Tract #2 Beth & Randy Rider October 13, 2011 • Legal Description: All of the minerals and mineral interest in and to the NW/4 of Sec. 32, Twp 20 N, R 11 W.I.M., Major Co., OK • Current Production: There are 3 wells in the Section: The Reames #2-32 in the center of the W/2 NE/4 SW/4 operated by Chesapeake, phone number 580-824-7751 or 800-566-9306; The Berry #1 in center of SE/4 operated by Gilliland Oil; and the Reames Unit “C” in center of SW/4 of NE/4 operated by Chesapeake. • January – June 2011 Royalty Income: From Chesapeake - Jan. $205.80; Feb. $257.49; March $202.26; April $109.17; May $235.91; June $335.44. There are no production records for Gilliland for 2011. • Terms: A 10% down payment will be required at the auction. You may use a personal check. Buyer will have fifteen (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 November 14, 2011. The Closing Agent is Fairview Abstract Company. The phone number is 580-227-4524. 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 Fairview Abstract Company, 116 E. Broadway, Fairview, OK 73737, unless parties agree to another place of closing. AUCTION DAY ANNOUNCEMENTS MINERALS – Tract #3 Larry & Carolyn Maddox October 13, 2011 • Legal Description: An undivided ½ of the minerals and mineral interest in and to the W/2 of the SW/4 of Sec. 20, Twp 20 N, R 8 W.I.M., Garfield Co., OK • Current Production: There is currently no production; appears to be open for lease. • Terms: A 10% down payment will be required at the auction. You may use a personal check. Buyer will have fifteen (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: Closing is to be on or by September 10, 2010. 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. AUCTION DAY ANNOUNCEMENTS MINERALS – Tract #4 Charles Mike McCaslin October 13, 2011 • Legal Description: All of the minerals and mineral interest in and to the SE/4 of Sec. 17, Twp 20 N, R 4 W.I.M., Major Co., OK • Current Production: The Classen #1-17 in the C of the NW/4 • Royalty Interest: .03125000 • Royalty Income: From January, 2011 to July, 2011: approximately $354.62. • Operator: Sweetwater Exploration, LLC. • Terms: A 10% down payment will be required at the auction. You may use a personal check. Buyer will have fifteen (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 November 14, 2011. The Closing Agent is Fairview Abstract Company. The phone number is 580-227-4524. 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 Fairview Abstract Company, 116 E. Broadway, Fairview, OK 73737, unless parties agree to another place of closing.