Atwood Sprinkler Irrigated Land Auction

Full terms & conditions

AUCTION PROCEDURE: The “ATWOOD SPRINKLER IRRIGATED LAND AUCTION” is a land auction with RESERVE. The property to be offered as a “MULTI PARCEL” Auction in the sale order as stated within the brochure. Bidding competition will determine the highest aggregate bid(s). Seller reserves the right to accept or reject any and all bids. Seller agrees not to accept and negotiate any contracts to purchase prior to auction date. Bids will be taken for total purchase price not price per acre, and/or price per district acre.

TERMS: Upon the conclusion of the auction, the highest bidder(s) will sign Brokerage Disclosure and will enter into and sign a Contract to Buy and Sell Real Estate (Land) or Purchase Contract for Irrigation Water for the amount of the bid. Required earnest money deposit to be in the form of a check or wire for 15% of the real estate and water purchase price which is due upon the signing of the contract and to be deposited with Reck Agri Realty & Auction. Purchase contract will not be contingent upon financing. Terms and conditions in the Due Diligence Packet and oral announcements shall be incorporated and made a part of the contracts. Sample contracts are available within the Due Diligence Packet.

CLOSING: Buyer(s) shall pay in good funds, the balance of purchase price plus their respective closing costs, and sign and complete all customary or required documents at closing, which is on or before June 7, 2024. Closing to be conducted by Northeast Colorado Title Company and the closing service fee to be split 50-50 between Seller and Buyer(s). If the property is sold whereby the Logan Irrigation District water does not need board approval, closing shall be on or before May 17, 2024.

TITLE: Seller to pass title by Warranty Deed (land), stock assignment (Irrigation Company shares & Lateral shares) and Petition for Inclusion/Exclusion for the Logan Irrigation District free and clear of all liens, encumbrances, special assessments levied or assessed, and subject to all easements and restrictions or covenants now of record. Title commitments are available for review within the Due Diligence Packet and title commitment and exceptions will be incorporated and made a part of the Contract to Buy and Sell Real Estate (Land). Title Insurance to be used as evidence of marketable title and cost of the premium to be split 50-50 between Seller and Buyer(s). The Buyer(s) to receive a TBD title commitment within Due Diligence Packet, updated title commitment with Buyer(s) name, lender, purchase price, and all supplements and additions thereto after auction, and an owner’s title insurance policy in an amount equal to the Purchase Price after closing.

Property to be sold subject to existing roads and highways; established easements and rights-of-way; prior mineral reservations, and minerals reserved by Seller as shown within these Terms and Conditions; and other matters affected by title documents shown within the title commitment; and zoning, building, subdivision, and other restrictions and regulations of record.

POSSESSION: Possession of property upon closing subject to residential lease. Current tenant has possession of the home for 30 days after closing. Seller retains possession of the area located north of the irrigated land to store equipment for 60 days after closing. Upon signing of contract and the earnest money clearing, Buyer(s) may enter onto property and complete the necessary fieldwork to plant crops.  Any completion of fieldwork and planting of crops does not constitute a farm lease.  If Buyer(s) defaults and doesn’t close, all fieldwork, crop expenses, and earnest money is forfeited to Seller.  If closing does not occur due to the default of Seller, Seller to reimburse Buyer(s) for fieldwork completed at custom rates and invoiced crop expenses.

PROPERTY CONDITION: The prospective Buyer(s) should verify all information contained herein. All prospective bidders are urged to fully inspect the property, its condition, and to rely on their own conclusions and the property is being sold AS IS-WHERE IS, without warranty, representation or recourse to Seller.

WATER RIGHTS & EQUIPMENT: Seller to convey all water rights, domestic wells, ditch and reservoir rights,  and  lateral and canal rights, and all easements and rights-of-way appurtenant to the property. The water rights being conveyed are described within each parcel description. The water rights are subject to the rules, regulations, and limitations of the Colorado Department of Water Resources and the respective ditch and reservoir companies. Water rights and the irrigation equipment are being sold AS IS-WHERE IS without warranty or guarantee of any water right matters, adequacy and/or delivery of ditch water and stream flows, and pumping rates/adequacy of domestic wells. Irrigation assessments for the 2024 growing season to be paid by Buyer(s). Conveyance of the Farmers Pawnee Canal Company water stock shares are subject to approval by their board. Conveyance of the of the Logan Irrigation District water is subject to approval as stated below. Irrigation equipment to include irrigation motors, pumps and T & L Lateral Sprinkler and pump. Sprinkler to be included with the North Farm Unit.

WELL AUGMENTATION:  The irrigation wells located on the property being sold are currently non-operation due to the Seller’s choice to use ditch water only. Seller did create his own augmentation plan  and was approved as Case No. 04 CW 86. (see pages _______) This plan included other irrigation wells and subsequently has been withdrawn from the plan. (See pages ______) Seller is transferring his rights to this plan plus his rights to Atwood Pond #2. (See pages ______ for copy of easement and agreement and see pages ______ for a copy of the map showing the location of this recharge pond) Seller to complete and pay for the installation of pipe and equipment to deliver recharge water to the augmentation pond.

FSA DETERMINATION:  FSA base acres and yields to pass with the Parcels, Combos, or Single Unit as designated within the Due Diligence Packet. Buyer(s) and Seller, at closing, to sign a memorandum of understanding stating the base acres and yields as designated within the Due Diligence Packet.

REAL ESTATE TAXES: 2024 real estate taxes due in 2025, and thereafter, to be paid by Buyer(s).

LEGAL DESCRIPTION: Legal descriptions are subject to existing fence/field boundaries or land-use trades, if any.

MINERALS: Seller to convey all their OWNED mineral rights to Buyer(s).

NOXIOUS WEEDS & CHEMICALS: There may be areas infested by noxious weeds. The location of and the density of noxious weeds is unknown at this time.

ACREAGES: All stated acreages in the Color Brochure, Due Diligence Packet, and visual presentation at the auction are approximate and are obtained from the FSA office and/or county tax record sources. Both sources may indicate different acreages and no warranty is expressed or implied as to exact acreages of property. All bids are for the total parcel and/or water lot without regard to exact acreage and/or district acre. There will be no adjustment in purchase price if acreage and/or district acre is different than what is stated in this brochure and/or stated at the auction.

MULTIPLE PARTY BID: If several parties go together and collectively bid on parcel(s) and the Multiple Party Bid is the highest bid, at the conclusion of the auction each party within the Multiple Party Bid shall identify and agree to sign separate contract(s), pay for their respective separate parcel(s) at closing, and pay for a metes & bounds survey and additional title insurance premium to create the legal description for their respective separate parcel. The collective purchase prices for the separate parcels shall equal the total Multiple Party Bid.

BIDDER REQUIREMENTS: To register to bid, Buyer(s), prior to the auction, must review and accept the Due Diligence Packet with the full auction terms and conditions, property descriptions, pertinent information, title commitments, and sample contracts. Due Diligence Packet may be obtained by visiting auction property page at reckagri.com, or by calling Reck Agri Realty & Auction. Bidding via cell phone, internet, and/or bidding on someone’s behalf, must be approved by Reck Agri Realty & Auction 24 hours prior to auction.

ANNOUNCEMENTS: The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Reck Agri Realty & Auction and the Seller assume no responsibility for the omissions, corrections, or withdrawals. The location maps are not intended as a survey and are for general location purposes only. Reck Agri Realty & Auction and all other agents of Broker are or will be acting as a Transaction Broker. Announcements made by Reck Agri Realty & Auction, at the time of sale will take precedence over any previously printed material or other oral statements. Reck Agri Realty & Auction does not offer broker participation for the “ATWOOD SPRINKLER IRRIGATED LAND AUCTION”. Reck Agri Realty & Auction reserves the right to require bank references upon request and reserves the right to refuse bids from any bidder. Bidding increments are at the discretion of the Broker.

COPYRIGHT: Photographs, videos, Color Brochure & Due Diligence Packets are property of Reck Agri Realty & Auction and cannot be reproduced without permission.