LAND AUCTION 736+/- ACRES OFFERED IN 14 TRACTS IN MONTGOMERY COUNTY, ILLINOIS
Thu, Oct 21, 11:00 AM
Hillsboro, IL - Montgomery County, Illinois
Owner: New River Royalty LLC
10am CST - 11 am EST
• Nearly All Tillable • Productive Soils • Tracts from 8+/- Acres to 85 +/- Acres • Possession for 2022 Crop Season • Near Hillsboro, IL
OPEN HOUSE/INSPECTION DATES
Tues, Sept. 21 - 11am-1pm
Thur, Oct. 7 - 11am-1pm
Meet a Schrader Representative at The Event Center of Montgomery County
From the junction of IL RT 127 & IL RT 185 on the South side of Hillsboro
The Event Center of Montgomery County
11198 IL Rt 185, Hillsboro, IL 62049
Tract 1: 40± ac Frontage on School House Rd & N 9th Ave.
Tract 2: 40± ac Frontage on N 9th Ave, potential building site.
Tract 3: 40± ac Frontage on N 9th Ave.
Tract 4: 70± ac Frontage on IL Rt 185.
Tract 5: 10± ac Frontage on IL Rt 185.
Tract 6: 8± ac Frontage on IL Rt 185.
Tract 7: 85± ac Frontage on IL Rt185, small woods on east end. (2) steel grain bins one 11,000 bushel w/ aeration & unloading auger second 4500 bushel w/ aeration, older barn & small bin.
Tract 8: 80± ac Frontage on N 9th Ave, some drainage tile.
Tract 9: 85± ac Frontage on N 9th Ave. 40ftx60ft pole barn, electricity, dirt floor, (2) sets of machine doors. (3) 1500 bushel steel grain bins.
Tract 10: 42± ac "Swing"tract must be combined w/ property having access to a public road.
Tract 11: 78± ac Frontage on N 9th Ave, combination of tillable & woods.
Tract 12: 38± ac "Swing" tract must be combined w/ property having access to a public road.
Tract 13: 38± ac Combination of tillable & recreational land, fronting N 9th Ave.
Tract 14: 82± ac Frontage on Coffeen Rd & N 9th Ave.
PROCEDURE: The property will be offered in 14 individual tracts, any combination (subject to "swing" tract limitations) of tracts & as a total unit. There will be open bidding on all tracts & combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations & the total property may compete.
BUYERS PREMIUM: A 3% Buyers Premium will be added to the final bid price & included in the contract purchase price.
DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashier's check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, & are capable of paying cash at closing.
ACCEPTANCE OF BID PRICES: All successful bidders will be required to enter into Purchase Agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.
EVIDENCE & STATE OF TITLE: Seller will pay the premium for an owner's title ins. policy. Buyer pays all costs of any loan, lender's title ins. &/or title ins. endorsement. Buyer & Seller will share (50:50) the cost of preparing the title commitment (incl. search fees & copy charges) & administering the closing.
DEED: Seller shall provide Special Warranty Deed(s), subject to the terms & conditions of the Purchase Agreement.
CLOSING: The balance of the real estate purchase price is due at closing, which will take place 30 days after the date of the auction.
POSSESSION: Possession will be at closing, subject to tenant's rights for the 2021 farming season.
REAL ESTATE TAXES: Real Estate taxes will be the responsibility of the buyer(s) beginning w/ taxes assessed in 2022 & thereafter.
PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries & due diligence concerning the property. Inspection dates have been scheduled & will be staffed w/ auction personnel. Further, Seller disclaims any & all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.
FSA TILLABLE: Tillable acres have been estimated based on information provided by the USDA/FSA office. Please visit the auction website to download FSA field boundary maps that are available in the Information Book or call for more info.
MINERAL RIGHTS: Seller shall retain any interest in minerals, mineral rights, mining & mineral development rights, ancillary associated rights, & subsidence rights.
MITIGATION AGREEMENTS: The Seller has entered into a certain Mitigation Agreements dated August 12, 2010, w/ Hillsboro Energy, LLC ("Hillsboro"), which was amended & restated w/ an effective date of August 21, 2018 (the "Mitigation Agreement"). The Mitigation Agreement is of record & is legally binding instruments providing for the mitigation by Hillsboro or its successors & assigns of subsidence damage to any structure(s) located on property subject to the Mitigation Agreement (the "Affected Property"). Under the Mitigation Agreement, among other provisions, Hillsboro is obligated to either repair any damage to structure(s) on the Affected Property or compensate the surface owner for the diminution in value of such structure(s) or, alternatively, pay the surface owner the appraised value of any structure(s) expected to be impacted by subsidence activities prior to mining in exchange for certain waivers. The foregoing summarizes certain provisions of the Mitigation Agreement, but is qualified in its entirety by the full & complete terms of the Mitigation Agreement, & is provided without representation or warranty, express or implied, as to accuracy or completeness. All bidders should review the terms & conditions of the Mitigation Agreement, which is available upon request.
AGENCY: Schrader Real Estate & Auction Company, Inc. & its representatives are exclusive agents of the Seller.
DISCLAIMER & ABSENCE OF WARRANTIES: All information contained in this brochure & all related materials are provided on an informational basis only & are expressly subject to the terms & conditions set forth in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, & no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction & increments of bidding are at the direction & discretion of the Auctioneer. The Seller & Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.