Under Contract for $730,000.
Well-located irrigated circle near I-80 in Lincoln County, NE, 4.5± miles west of North Platte on S. River Road. Irrigation well with 7-tower Valley 8000 pivot. Fall possession – no farm lease in place.
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ONLINE BIDDING PROCEDURE: The Thomas Tuell Trust Pivot Irrigated Property will be offered for sale as one parcel. BIDDING WILL BE ONLINE ONLY. Bidding will begin @ 8:00 am CT on August 15, 2023. The auction will “soft close” @ 12:00 noon, CT on August 15, 2023. Bidding remains open on as long as there is continued bidding on the property. Bidding will close when 5 minutes have passed with no new bids. Bidders may bid at any time before bidding closes.
To bid at the online auction:
1. Download RECK AGRI MOBILE APP through the Apple App Store or Google Play OR visit reckagri.com and click on the Thomas Tuell Trust Pivot Irrigated Land Auction property page to register to bid.
2. Your registration must be approved by Reck Agri Realty & Auction before you may bid. See Bidder Requirements below.
3. If you have questions regarding the bidding process and/or registration, call Reck Agri Realty & Auction at 970-522-7770.
BIDDER REQUIREMENTS: Prior to auction, Buyer(s) to review the terms and conditions as set forth in the Due Diligence Packet. Due Diligence Packet may be obtained by visiting auction property page at reckagri.com, or by calling Reck Agri Realty & Auction.
Requirements for Buyer(s) to be approved to bid online: 1.) Review and agree to the terms and conditions of the Due Diligence Packet; 2.) Provide Reck Agri Realty & Auction verification of available funds to purchase the property and/or bank loan approval letter with no contingencies; and 3.) Registration can be completed through our website or by calling the office. Reck Agri Realty & Auction reserves the right to refuse registration to bid and/or bids from any bidder. Bidding increments are at the discretion of the Broker.
SALE TERMS/PROCEDURE: The “THOMAS TUELL TRUST PIVOT IRRIGATED LAND AUCTION” with RESERVE is an online only auction with RESERVE. The Thomas J. Tuell Irrevocable Income – Only Trust pivot irrigated property to be offered as one parcel. Competitive bids will determine the outcome of the auction. 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.
SIGNING OF PURCHASE CONTRACT: Immediately following the closing of the auction, the highest bidder(s) will sign Brokerage Disclosure and will enter into and sign a Farm, Ranch, & Land Purchase Agreement for the amount of the bid. Required earnest money deposit to be in the form of a personal, business, or corporate check for 15% of the 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 of the Due Diligence Packet and announcements shall be incorporated and made a part of the contract. Sample contract is 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 September 15, 2023. Closing to be conducted by Thalken Title Company and the closing service fee to be split 50-50 between Seller and Buyer(s).
TITLE: Seller to pass title by Trustee’s Deed 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 Farm, Ranch, & Land Purchase Agreement. 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), except Buyer(s) to pay for cost of loan title insurance policy, if applicable. 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 other matters affected by title documents shown within the title commitment; and zoning, building, subdivision, and other restrictions and regulations of record.
POSSESSION: Upon signing of contract and the earnest money clearing, Buyer(s) may enter onto the 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.
LEASE: Seller attests there is no farm lease on the property.
PROPERTY CONDITION: 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, water wells, well permits, and equipment appurtenant to the property for irrigation use including but limited to well G-116943 and all certified irrigation acres within the Twin Platte NRD. The well is subject to the rules, regulations, and limitations of the Nebraska Department of Natural Resources and the Twin Platte Natural Resource District. Water rights are being sold AS IS-WHERE IS without warranty or guarantee of any water right matters, pumping rates or adequacy of irrigation wells, and/or condition of all irrigation equipment. Irrigation equipment includes electric motor, pump, and pivot.
GROWING CROPS: No growing crops included.
REAL ESTATE TAXES: 2023 Real Estate Taxes due in 2024 to be prorated to the day of closing.
FSA DETERMINATION: There are no FSA base acres on this property.
LEGAL DESCRIPTION: Legal descriptions are subject to existing fence/field boundaries or land-use trades, if any.
MINERALS: Seller to convey all OWNED mineral rights to Buyer(s).
NOXIOUS WEEDS: 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 initial brochure, Due Diligence Packet, and visual presentations are approximate and are obtained from the FSA office and/or county tax records. 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 without regard to exact acreage. There will be no adjustment in purchase price if acreage is different than what is stated in this brochure and/or stated at the 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 Limited Seller’s Agent. Reck Agri Realty & Auction does not offer broker participation for the “THOMAS TUELL TRUST PIVOT 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.
Announcements made by Reck Agri Realty & Auction at the time of the sale will take precedence over any previously printed materials.
Prior to auction, Buyer(s) to review the terms and conditions as set forth in the Due Diligence Packet. Due Diligence Packet may be obtained by visiting auction property page at www.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.