PREMIER Cass County
Land & Personal Property
AUCTION
Saturday, June 28, 2014
Real Estate Sells at 10:00 a.m. 1 Tract, 80 acres M/L • T43N-R31W-S36
Property Featu res 3416 square fo ot Log Home, 10 Acre Pristin e Lake, Quality Pastu re & Woodlands!
35304 S. Barnard Rd., Archie, MO 64725 Personal Property Auction to Follow Real Estate
Sellers:
From Archie, go East on HWY B 2 ½ Miles and South ¼ mile on Barnard Road From Harrisonville, go South on I-49, 9 miles to the Archie exit, MM 147.8 and follow the Archie directions.
Albert & Mary LynnE Cornell For Sale Information Contact
Mike Williams 816-797-5450
Home Shown by Appointment
www.wheelerauctions.com • mike@wheelerauctions.com
TABLE OF CONTENTS Auction Information and Notes................................................................... 4-5 Auction Terms and Conditions.................................................................... 6 Aerial Map................................................................................................... 7 Cares Map..................................................................................................... 8 Tract Map...................................................................................................... 9 Log Home, Lake, Land, and Mobil Home Details....................................... 10-12 Personal Property Listing & Photos............................................................. 13-16 Photo Gallery................................................................................................ 17-22 Auction Sales Contract................................................................................. 23-27
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AUCTION INFORMATION & NOTES Property Location • T43N – R31W – S 36 • SALE SITE - 35304 S. Barnard Road, Archie, MO 64725 (Log Home Address) • 35308 S. Barnard Road, Archie, MO 64725 – (Mobil Home Address) • 2 ½ miles east of Archie on HWY B and ¼ mile south on Barnard Road Auction Procedure and Time • We will sell the Real Estate which includes the Log Home, Machine Shed, Shop, Dock Cottage, Lake, Mobil Home, adjoining Pasture and Woodlands containing 80 Acres M/L at 10:00 a.m. The property will sell by the Total Dollar Amount and is subject to confirmation of the bid price by the sellers. Wheeler Auctions reserves the right to take as many recesses in the auction process as necessary to consummate and conclude the real estate sale. • The auction of Personal Property will follow immediately upon the conclusion of the Land Sale. Contract and Down Payment • NO BUYERS PREMIUM • We will write the Land Contract immediately following the conclusion of the land auction. • 10 % nonrefundable down payment is due at the signing of the contract. YOUR BIDDING IS NOT CONTINGENT UPON FINANCING and the escrow money will be payable to and held by Coffelt Land Title Inc. Closing Anticipated closing on or before Monday, July 28, 2014 at the office of Coffelt Land Title Inc., 401 S. Lexington, Harrisonville, MO 64701- Phone, 816-581-2223 Possession Possession will be given on or before Sunday, August 10, 2014 subject to tenants’ rights. As soon after the Closing as possible the Cornell’s will be moving to their new home in Drexel, MO and full possession of the log home and lake area will be available at that time. Tenant Rights • The current tenant of the Mobil Home, Ms. Karen Deck, Mary’s sister, would like to have an option and negotiate a new rental agreement with the new buyer, to stay in the Mobil Home if that is an option the new buyer wishes to pursue. If arrangements are not satisfactory to either party then the current tenant will move from the premises on or before Sunday, August 10, 2014. • The pasture tenant has the pasture and hay ground rented through October 31, 2014. At that time he will relinquish all tenancy, however, he would like to submit a proposal to continue renting the farm ground if the new buyer wishes to enter into those negotiations.
Taxes • The 2013 property taxes of $1754.67 on the Log Home, Lake, and 70 acres are paid. • The 2013 property taxes of $213.31 on the Mobil Home and 10 acres are paid. • Both of these Cornell properties will be sold as one parcel, 80 acres M/L and the 2014 taxes will be pro-rated to the date of closing. Survey As current legal descriptions are in place, there is no need for a survey Other Information • R-5 Archie School District • Osage Valley Electric Utilities • City Water through the Garden City Water District • Cass County Property Tax rate for 2013 was 5.7967% of the assessed property values • Septic System for the Log Home and Dock Cottage are serviced with a 1200 gallon septic tank and laterals to a lagoon. • Septic System for the Mobil Home is a septic tank with laterals all contained with-in the current 10 acre boundary • The log home boasts a Vac-U-Flow vacuum system with a total of four outlets up and down • The stacked washer and dryer upstairs in a convenient master bedroom closet and the laundry closet downstairs equipped with another washer and dryer are efficient and convenient. • 10 ft. ceilings for the spacious, open living area • The 44 inch wide stairway can easily accommodate a stair lift to the master bedroom if a new buyer wanted that accommodation. The Cornell’s built the home with that in mind but never needed it. Most doorways are 36 inches and the downstairs is completely built handicap accessible. • New outside paint 2013 • New Steel Roof, 26 gauge, 35-year warranty, 2012 • Deer and Turkey are often seen in the pasture and run the timber on the West side of the property. • A 30 tree Pecan Grove is a producer that offers both nut production and wildlife habitat. • The two elk, two rams and one bear (steel silhouettes), flag pole and eagle pole will convey with the property.
AUCTIONEERS NOTE:
Albert and Mary Lynne’s decision to down size, move to town, enjoy retirement with some travel has afforded an opportunity to buyers wishing to stay close to Kansas City, have a rural lifestyle with abundant recreation and income potential. Wheeler Auctions and Real Estate is proud to offer this Farm, Home and Lake at Auction and promises you won’t be disappointed when you research what is offered and its potential to satisfy the most discriminating buyer. Whether you are looking for a home or wish to make a business opportunity from your purchase this is a “must see and consider” piece of Real Estate. We invite you to be with us on Saturday, June 28, 2014, visit with the Cornell’s and exercise your option to purchase a piece of property like no other in Cass County. Chas & Mike For Sale Information Contact: Wheeler Auction Representative,
Mike Williams • 816-797-5450
mike@wheelerauctions.com • Website: www.wheelerauctions.com
SALE DAY CELL PHONES: Chas Wheeler 573-473-2508 • Mike Williams 816-797-545 Charlie Nordwald 636-795-4552 • Clint Youse 660-651-4779 • Sonny Ketchum 523-721-2021 mike@wheelerauctions.com
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AUCTION TERMS & CONDITIONS Procedure: Land will sell in one parcel by the Total Dollar Amount as 80 acres m/l. Sale is subject to confirmation of bid price. Down Payment: Ten percent (10%) down payment the day of auction, upon signing a purchase agreement immediately following the close of bidding. The down payment may be paid in the form of personal check, business check, or cashiers check. The remainder of the purchase price is payable at closing within 30 days. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, be sure you have arranged financing, if needed, and are capable of paying the balance at closing. Title: Sellers shall provide and execute a proper deed conveying the real estate to the buyer(s). Seller to pay for title insurance. Buyer and seller will split the closing costs. Possession: Possession will be given on or before Sunday, August 10, 2014. Subject to stated tenant rights. An explanation of possession is stated in the Auction Information and Notes on Page 4. Real Estate Taxes: The real estate taxes for the year 2013 are paid by the seller, 2014 Taxes will be pro-rated between the buyer and seller to the date of closing and buyer shall be responsible for all periods thereafter. Mineral Rights: The sale shall include 100% of the mineral rights owned by the sellers. Easements: Sale of the property is subject to any and all easements of record. Acreage: All acreage is determined from tax documents, current legal descriptions, and assessors’ maps. Survey: Any need for a survey shall be determined solely by the sellers. With the two legal descriptions in place and determined to be 80 acres M/L there will be no need for a survey to transfer ownership of this property. Closing: Anticipated closing date shall be on or before Monday, July 28, 2014 or on a date mutually agreed upon by the buyer(s) and the sellers conducted at the office of Coffelt Land Title Inc., 401 S. Lexington St, Harrisonville, MO 64701; Phone 816-581-2223; email: jvergouven@coffeltlandtitle.com Agency: Wheeler Auctions & Real Estate and its representatives are Exclusive Agents for the sellers. Disclaimer: The property is being sold on an “as is, where is” basis, and no warranty or representation, either express or implied, concerning the property is made by either the sellers or the auction company. Each bidder is responsible for conducting its own independent inspections, investigations, and all due diligence concerning the property and the auction. Information contained in this brochure is subject to verification by all parties relying on it. Diagrams/dimensions in this brochure are approximate. Acreage is estimated. All information contained in this brochure and any related materials are subject to the terms and conditions of sale outlined in the purchase contract. Auction conduct and bidding increments are at the sole direction and discretion of the auctioneer. All decisions of the auctioneer are final. The sellers and the Auction Company reserve the right to preclude anyone from bidding if there is a question as to the person’s credentials, fitness, intent, etc. New Data, Corrections and Changes: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information. ALL ANNOUNCEMENTS AND INFORMATION GIVEN FROM THE AUCTION PODIUM SHALL TAKE PRECEDENCE OVER PREVIOUSLY PRINTED OR STATED ADVERTISEMENT.
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ASSESSOR MAP
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CARES MAP
The Archie FFA, Mr. Matt McIntire, advisor, will provide the food stand on sale day
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TRACT MAP
Cornell Property mike@wheelerauctions.com
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Al and Mary Lynne Cornell have developed this land into a majestic, family and recreational type atmosphere which boasts improvements and amenities. The property consists of 80 acres M/L containing approximately 40 acres of high quality pasture, 20 acres of woodlands, a pristine 10 acre lake, and 10 acres of recreational frontage consisting of lawn, landscaping, and trees. As you enter the property from the county road you are greeted with a stone gated entrance, great landscaping and a large gold fish pond with water fountain and water wheel. The water geyser has a new pump system, capable of 400 gallons per minute, flows year round and never freezes. The Log home is a 3 bedroom, 3 1/2 bath, two story, 3416 Sq. Ft. Pine Log sided structure with a 2400 Sq. Ft. attached machine shed and shop. The large kitchen with beautiful cabinets and granite countertops, the large dining room, and the spacious living room flow nicely and overlook the lake and boat house. This home contains beautiful woodwork throughout and solid wood doors. The current office room or bedroom if you like, has the view of the fountain and stone fish pond. The master bedroom is upstairs, very spacious, with its own washer, dryer, wet bar, Jacuzzi, walk-in closet, and it to overlooks the lake. A corner stone fireplace in the living room ads to the lodge atmosphere and warmth of this log home. Just north of the main house is a 580 sq.ft. Cottage on the 1800 sq.ft. Dock, Boat House, and Green House. A restroom on the dock and sitting area to watch the swimmers jump from the diving board make this a favorite spot to relax. The boat house is enclosed and contains a great area to tie boats wave runners, pontoons or to fish in the shade. The outdoor Jacuzzi seats 6 to 8, has 18 jets, two sun bathing benches, covered with bar arm rests and foot rails. The spa has a new motor but needs a $200 control panel to operate. The 10-acre lake is breathtaking. It is stocked with Largemouth Bass, Catfish, and Crappie, all of which are very large and a treat to catch, eat, or release. The lake is man-made, 25 ft. deep in the middle with a 15 ft. depth at the diving area. Over 700 tons of Stone rip-rap line the banks all the way around and the eastern shores feature huge flat rocks and boulders to enhance the beauty of this water structure. The water is clear and
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absolutely one of the most beautiful lakes you’ll find anywhere. South of the main house with the 35308 S. Barnard Road address is the 1274 sq.ft. Mobil Home. It is a three bedroom/ three bath units, with a deck and built-on bedroom addition. Both homes feature central air-conditioning, and propane furnaces. Both propane tanks are rented from Ferrell Gas Company and do not convey with the property. Possibilities for use, in addition to the homes, cattle pasture, hay ground, and hunting with obvious family recreational aspects, abound with a buyers potential to create a business from this property and location. A few that have been mentioned include: Wedding Venue, Photo Studio, Winery, Family Retreat, Corporate Retreat, Church Retreat, Concert Location, Bed and Breakfast, Fishing Tournament, Youth Workshop Facility, Civic or Organization Facility. A buyer’s imagination is the only outer limit to what can be done with this Real Estate purchase. This property is beyond words and truly needs to be viewed to appreciate.
Propane Fireplace
All the elevated Bird Houses stay with the property
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Outdoor Grill
PERSONAL PROPERTY
The Cornell Personal Property Will Sell Immediately Following the Real Estate Auction. The personal property has a lot of items. We will sell in one ring, sell quickly, so come prepared!
Steel Cattle Rubber
Carry Cart
Farm Equipment
Ford 2600 Gas Tractor, 736 hrs., Dual Hydraulics 500 Gallon Water Wagon Rubber Tires Rhino TW 72” 3 pt Mower Ford 5 ft 3 pt. Blade 3 pt. Bale Spear Massey 6 ft. Disk, 3 pt. Mounted Tractor Sprayer, 8 ft. booms 22-Steel Cattle Panels with walk-in Squeeze Chute 2-Steel Framed Wire Gates Steel Cattle Trough 2-Poly Water Troughs Steel Frame Back Rubber Antique John Deere #4 Bar Mower Electric Fence Barbed Wire Gallagher S17 Electric Solar Fencer 2-300 gallon Fuel Tanks with Stands 2-4 Wheeler Loading Ramps New 250 ft Spool 1/2 in Steel Cable Herd Sure-feed Seeder
Lawn and Garden
Stihl 025 Chain Saw Stihl FS110R Gas Weedeater Roto Tiller Leaf Blower 25 gallon Fimco Sprayer HD Hand Cart Wheelbarrows Approx 400 ft Water Hoses Leopard Statue-outdoor Lion Statue-outdoor
2 - Steel Dog Silhouettes-outdoor Steel Bear Silhouette-outdoor 2 - Steel Male Silhouettes-outdoor Lawn Table and Chairs Greenhouse Table and Chairs
Tools
Antique Shovels-shooters Concrete Mixing Tub Concrete Mixer Lot of Hand Tools, Levels, Saws, Cutters Miller Wire Welder, Like new Dayton 4W110 Generator, Electric Start 55 Gallon Barrel Dolly 80 ft. of Log Chains 8 - Aluminum Extension Ladders: 20’, 24’, 30’, 32’ 3 - 8 ft. Wooden Step Ladders Ladder Jacks Sawhorses 2 - 20 ft. Scaffolding Picks 30 Paint Rollers and Poles Car Jack Dewalt Electric Hand Tools Extension Cords Red Devil Paint Shaker Puma 6 horsepower Air Compressor Shop Vacs Instant Power Jump Box HD Power line Com-A-Long Shovels Rakes Post Driver Complete Transit Set, Poles and Transit Dayton Carpet Dryer
Furnace
Appliances
Richmond Hot Water Heater Lenox LF2-110 Furnace 110,000 btu Hotpoint Refrigerator/Freezer 2 Small Refrigerators Commercial Grade Popcorn Popper Ice Chests Char Broil Gas Grill 42 Cup Coffeemaker/Peculator Dayton 150,000 btu Portable Heater Dayton 50,000 btu Portable Heater 2 Electric Water Pumps
Building Materials
Electric Lights 2 Pallets Marble and Granite Approximately 2400 Red Bricks 10’ White Metal Colonial Style Columns Stack of Sheet Metal Siding Pontoon Siding
Recreation
16 ft Sea Nymph Fishing Boat 3 Trolling Motors Suntracker Bass Buggy Pontoon 8 ft Wooden Toboggan Ithica Model 34, 12 gauge 2-3/4 in Shotgun Boat Chair Forms Double Trolling Motor Battery Charger 2 Trolling Motor Batteries 2 Sets-Horseshoes 5” Anchor Chain - Decorative Misc. Fishing Poles and Equipment Listing continues on page 14
Lanterns Old Boat Trailer Duplex Log Dog House
Household
4 Sets Wooden Window Louvers 2-Sofas Coffee Tables Household Chairs Lazy-Boy Recliners Indoor Statues Lamps End Tables Oak Video Cabinet 2 Wicker Handmade Rockers Wicker Baby Buggy Desk and Leather Chair Decorative Wooden Wall Poles Antique Victrola Cabinet Wooden Bedside Shelf Wall Paintings/Pictures Clocks No. 5 Jug Mitsubishi 52” Big Screen TV with Remote Hitachi 52” Big Screen TV with Remote Floral Shelf Decorations Seasonal Wreaths with Dolls Antique Merry-Go-Round Lighted Decorative Porcelain Houses Invocare Wheelchair Walker and Crutches 8mm Movie Screen
Various Novelty & Keepsakes
Road Signs Shoppe Signs Railroad Lights Large and Small Outdoor Statuettes Numerous Porcelain Dolls 2 Antique Reel Mowers
Victrola Cabinet
Plates
(200 to 250 with more added by sale day)
Norman Rockwell-Gone With the Wind SeriesSeveral other Series by Norman Rockwell Daylon Children’s Plates Terry Redlin Darceau-Limoges Many Animal Painting Plates: Including Woodland Friend Series by Larry Toschik Ed Knowles Fine China Platter Morning Song-American Atelier China W. L. George Fine China
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Merry-Go-Round
2400 Red Bricks All the steel silhouettes stay with the property
Granite & Marble
Duplex Dog House
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All Appliances Stay with the Property!
Many of the Room Furnishings will sell on the Personal Property Auction
Hall Entrance with the Many Novelties
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Wall Gun Case & Entrance to BBQ Room
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ou won’t be disappointed with the construction quality of the docks, cottage home and landscaping
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Triple Bunks Beds in the bunk room and a hardwood floor
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Al’s years in the construction business are evident in the development of this real estate as a unique and comfortable, All-encompassing opportunity for you the buyer.
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eauty, Value, and Integrity combine to make this Land, Home and Lake Property a great
investment that celebrates living and quality for a lifetime. 20
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North Pasture Entrance
All seasons are included in this Photo Gallery of Real Estate. The vista never has a bad day!
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1/2 Mile Farm Frontage on S. Barnard Road With the kind of road frontage that exists on this land, the way it lays, the lake access, and the convenience to a metropolitan area, it’s not hard to see the possibility of sub-divisions for new homes.
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he Driveway and tree-lined lane into the pasture on the South is also a home site area that shouldn’t go unnoticed. A Stone Bridge Crossing over a wooded drainage is both beautiful and functional that moves the lane into a picturesque area of the farm. Walnut Trees are the backdrop for this area of the farm.
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AGREEMENT TO PURCHASE REAL ESTATE AT PUBLIC AUCTION THIS AGREEMENT TO PURCHASE REAL ESTATE AT PUBLIC AUCTION (later called the “Agreement”), made and entered into as of this 28th day of June, 2014, by and between Albert F. and Mary Lynne Cornell, and Michael D. and Beth A. Cornell (collectively later called the “Seller”)____________________ and____________________ ______________________________________ ______________________________________________________________(later called the “Purchaser”), as the highest bidder on the property (as defined in Paragraph 1) at the public auction on this date (the “Auction”), is made subject to the following terms, covenants and conditions: 1. PROPERTY: Seller agrees to sell and Purchaser agrees to purchase 2 parcels sold as a total dollar amount with approximately 80 total acres of real estate situated in Cass County, Missouri. Purchaser hereby acknowledges and understands that the Property is being sold on an “as is where is” basis. Purchaser further acknowledges that this Agreement is not contingent upon financing and that failure to close this transaction on or before Monday, July 28, 2014, due to any delay caused by Purchaser shall constitute a forfeiture of the Earnest Money. 2. PURCHASE PRICE: Purchaser agrees to pay to the Seller the total sum of _____________________________ ______________________________ (the “purchase price”). Purchase price is figured from Auction Total Dollar Value or Amount. ____________________________________________________________________________ __________________________________________________________________________________________ ___________________________________________________________________________________________ Upon execution of this agreement, the Purchaser will pay by check and not in cash _______________________ __________________________________ (which amount is equal to ten percent (10%) of the Purchase Price as Earnest Money made payable to and to be held in the escrow account of Coffelt Land Title, Inc., as escrow agent, there under for delivery to the Seller at the time of closing or as otherwise provided for herein. The balance of the Purchase Price shall be paid by Purchaser to the Seller at closing in cash or form of payment acceptable to the Seller. 3. TITLE: Seller shall furnish Purchaser with an Owners Title Insurance Commitment (Title Commitment), issued by Coffelt Land Title, Inc. Title insurance premium paid for by the Seller. The Title Commitment shall commit the subject title company to issue Purchaser its standard owner’s policy in the amount of the purchase price, showing title to the Property in the name of the Seller. In the event that the Seller is unable to convey the Property in accordance with the terms of this agreement, Purchaser shall elect to either (a) take the Property encumbered with the objectionable exceptions to the title and waive any and all objections thereto without abatement of the Purchase Price, or (b) receive a refund of the Earnest Money, and upon such refund being made, this Agreement shall terminate and be of no further force and effect. 4. SURVEY: If survey is necessary, survey shall be provided at Seller’s expense a new survey reflecting the legal description, acreage and boundary lines for any Tract of the Property where there is no existing legal description or where new boundaries are created by the divisions of Tracts at the Auction. Any need for a survey shall be determined at the sole discretion of the Seller.
As current legal descriptions for the Cornell property are in place, there will be no need for a survey.
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5. CLOSING AND POSSESSION: The “Closing” shall take place on or before Monday, July 28th, 2014, at the office of Coffelt Land Title, Inc., 401 S. Lexington, Harrisonville, MO 64701, and at a time designated by the Seller and agreed upon by Purchaser. Concurrently with the Closing, Purchaser shall pay to the Seller the Purchase Price, less the Earnest Money as provided for herein. Upon full receipt of the entire Purchase Price by Seller, Seller shall deliver to Purchaser special warranty deeds from each selling entity conveying title in the property to the Purchaser. Purchaser shall pay the charge for recording the Deed. Seller and Purchaser agree to execute any real estate transfer declarations required by the state, county or municipality in which the Property is located. The Seller and Purchaser agree to provide and to execute such further documents as may be necessary or customary to close this Agreement (e.g., Seller Affidavit; FITPTA Affidavit; Organizational documents and closing statement) and equally for closing costs. Purchaser shall be entitled to possession of the property on or before August 10th, 2014. Possession is contingent upon both, the mobile home tenant and Albert F. and Mary Lynne Cornell, vacating property. The Possession and Tenant Rights are outlined in the Information and Notes Section of the Sale Prospectus. 6. CASUALTY: Seller will keep the Property and Improvements insured until closing. If the improvements on the property are substantially damaged or destroyed by fire or other casualty prior to closing, then Buyer will have the option of accepting all of the insurance proceeds and proceeding to close this Agreement, or terminating this Agreement. If this Agreement is terminated due to this paragraph then the earnest money will be returned to the Buyer. 7. WARRANTIES: Purchaser acknowledges that Purchaser has been given an opportunity for a full inspection of the property and related information and further acknowledges with respect to this agreement that Purchaser is satisfied in all respects with the condition of the Property and all matters pertaining thereto. Purchaser accepts the Property “as is” and in its present condition with Purchaser assuming risk thereof. Purchaser understands that Seller makes no warranty or representation of any kind, either implied or expressed or arising by particular purpose of the Property or any portion thereof, and in no event shall Seller be liable for consequential damages. Purchaser acknowledges that Seller has not agreed to perform any work on or about the Property as a condition of Purchaser’s purchase of it. 8. MINERAL RIGHTS: One hundred percent (100%) of the mineral rights owned by Seller with respect to the Property, if any, shall be conveyed to Purchaser at Closing. 9. REAL ESTATE TAXES AND ASSESSMENTS: Real Estate taxes for the 2014 calendar year shall be pro-rated to the day of closing. Purchaser shall assume and pay real estate taxes for the Property for all periods thereafter. 10. DEFAULT: If Purchaser fails to perform any obligation imposed by this Agreement, Seller may serve written notice of default upon Purchaser and if such default is not corrected within ten (10) days thereafter, then, at the option of the Seller, this Agreement shall terminate and the Seller shall be entitled to retain the Earnest Money paid hereunder as liquidated damages. The foregoing remedy in the event of default is not intended to be the exclusive remedy of Seller, and Seller shall have the right to seek any other remedies available at law or equity, including but not limited to specific performance. Default by Purchaser shall entitle Seller to court costs and reasonable attorney’s fees incurred in enforcing the provision of this Agreement. In the event of failure of Seller to perform the obligations imposed by this Agreement, Purchaser’s sole remedy hereunder is to terminate this Agreement and receive a refund of the Earnest Money upon similar notice served upon Seller and similar expiration time period. The Escrow Agent, upon receiving an affidavit from the non-defaulting party stating that this Agreement has been terminated as provided herein, shall be entitled to rely upon such affidavit and shall deliver the earnest money to the non-defaulting party.
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11. ENVIRONMENTAL: The Purchaser acknowledges that the Seller has not made and hereby disclaims any and all representations and warranties, either express or implied, regarding the environmental condition of the Property. The Purchaser shall rely upon its own independent investigation, inspection, inquiry, analysis, and due diligence to evacuate and ascertain the environmental condition of the Property. The Purchaser has been advised that the Property is being sold “as is, where is” and that Seller is not representing or warranting that the condition of the Property is in accordance or compliance with any past, present, or future federal, state or local environmental laws, regulations, requirements, or standards. As a matter of corporate policy, Seller makes it a practice to expressly advise any purchaser that the improvements on the Property include materials, which may contain asbestos, and encourages Purchaser to investigate specifically whether asbestos containing materials exist on the Property. 12. PROVISIONS RELATING SPECIALLY TO SELLER/TRUST/ TRUSTEES/ EXECUTOR AND THEIR RESPECTIVE SPECIAL CIRCUMSTANCES: Trustee/Executor Disclaimer. Each fiduciary comprising Seller executes this instrument only in its representative capacity and shall not be bound or obligated hereunder except in such capacity. Purchaser acknowledges and agrees that this Agreement is made by such fiduciaries solely in their fiduciary capacity as described in the signatures affixed hereto, and that such fiduciaries shall not be liable for any breach or any failure to perform any obligation under this Agreement except from assets held in the fiduciary capacity described. 13. PROVISIONS RELATING TO THE AUCTION COMPANY/ AUCTIONEER/BROKERS/FINDERS/ AGENTS: (a) This Agreement is solely between Seller and Purchaser. Wheeler Auctions & Real Estate, L.L.C. (the “Auction Company”) and its licensed auctioneers are employed by the Seller. The Auction Company and its auctioneers shall not be liable for any patent or latent defects or deficiencies existing in the Property, improvements or other appurtenant structures thereon, nor for any information provided to the Purchaser. The Purchaser acknowledges that it has conducted its own independent investigations, inspections, inquiries and due diligence concerning the Property. (b) Commission. Notwithstanding any other provisions of this Agreement, the right to commission, if any, payable to any agent representing either party to this Agreement shall not vest until the transaction is closed, and shall be payable only out of proceeds of closing and said agent shall have equal right to any portion of Earnest Money forfeitures. 14. IRS 1031 TAX EXCHANGE DECLARATION (Optional): It is agreed between the purchaser(s) and seller(s) that a material part of the consideration to the Purchasers for purchasing is that the Purchaser has the option to qualify this transaction as part of a tax-deferred exchange under Section 1031 of the Internal Revenue Code of 1986 as amended. Sellers agree that Purchaser may assign this Agreement to an exchange intermediary of Purchasers choice. Purchaser agrees that any and all additional expense, if any, shall be borne by Purchaser and Sellers agree to fully cooperate to complete the exchange. Seller hereunder desires to exchange, for other property of like kind and qualifying use within the meaning of Section 1031 of the Internal Revenue Code of 1986, as amended and the Regulations promulgated there under, fee title in the property which is the subject of this Contract. Seller expressly reserves the right to assign its rights, but not its obligations, hereunder to a Qualified Intermediary as provided in IRC Reg. 1.1031(k)-1(g)(4) on or before the closing date.
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15. MISCELLANEOUS: (a) Jurisdiction. This agreement shall be construed in accordance with the laws of the State of Missouri. Any provision of this Agreement which is unenforceable or invalid, or the inclusion of which would affect the validity, legality, or enforcement of this Agreement shall be of no effect, but all the remaining provisions of the Agreement shall remain in full force and effect. (b) Entire Agreement. This Agreement contains the entire agreement of the parties and no representations, warranties or agreements have been made by either of the parties except as set forth in this Agreement. (c) Heirs, Successors and Assigns. This Agreement shall ensure to the benefit of and shall be binding upon the Seller and Purchaser and their respective heirs, successors, and permitted assigns, provided, however, that Purchaser may not assign its rights or obligations hereunder without the prior written consent of the Seller. (d) Time is Of the Essence. The time for performance of the obligations of this Agreement is of the essence. (e) Notice. All notices shall be in writing and shall be deemed to have been properly delivered as of the time of delivery if personally delivered or as of the time deposited in the mail systems if sent by United States certified mail, return receipt requested, and postage prepaid. 16. FSA/NRCS: Seller is obligated to maintain (if any) the current FSA Program and Basis on the above listed real estate. Buyer agrees to the division of FSA Program data as a percent of cropland acres per tract. Buyer assumes the responsibility of any and all FSA or NRCS Programs currently in place. Buyer will be required to maintain and comply with FSA regulations of the CRP contract. 17. Tenant Rights: Present tenant’s rights prevail if any. 18. SPECIAL AGREEMENTS (if any): (a) Possession of the log home will be available as soon as the Cornell’s vacate, on or before August 10, 2014. (b) Possession of the mobile home will be available as soon as the tenants vacate, on or before August 10, 2014. (c) Possession of the pasture will be November 1, 2014.
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IN WITNESS WHEREOF, the parties have executed this Agreement in three counterparts, each of which shall be deemed an original instrument, as of the day, month and year first above written. SELLER:
PURCHASER:
Albert F. Cornell _____________________________________
___________________________________
Mary Lynne Cornell
___________________________________
_____________________________________
___________________________________
Michael D. Cornell
_____________________________________ Beth A. Cornell
Address_____________________________ City, State, Zip________________________ ___________________________________
_____________________________________
___________________________________
Address: 35304 S. Barnard Rd. Archie, MO 64725 Phone _______________________________
Phone _______________________________
Email _______________________________
Email _______________________________
Date ________________________________
Date _______________________________
Lender Contact ______________________ ___________________________________ TITLE COMPANY INFORMATION: Coffelt Land Title, Inc. 401 S. Lexington, Harrisonville, MO 64701 (816) 581-2223 Email: jvergouven@coffeltlandtitle.com
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