Nebraska Auction Guide

ADAMS COUNTY PIVOT IRRIGATED LAND
AUCTION
Monday, December 21, 2009 - 10:00 a.m.
The Auction will be conducted at the Garden Café Banquet Room,
2205 Osborne Drive East, Hastings, Nebraska.

The Southwest Quarter of Section Twenty-nine (29), Township Six (6) North, Range Nine (9) West of the 6^th P.M., Adams County, Nebraska. (160 acres more or less).

This is a rolling pivot irrigated farm located from Hastings, 8 miles south on Showboat Boulevard, 1 mile west on Sundown Road, then 1 mile south on Palomino Avenue. The farm features a deep well with an 8”pump and an Amarillo 80 HP 11-10 ratio gear head. The farm is irrigated by a 10 tower T-L hydrostatic planetary drive pivot system. The farm has been well managed and has excellent soil types consistent with the normal crops grown in the region.

Tract #1 will include the farm land only.
(Approximately 157.8 acres)

Tract #2 will include the acreage with a 2 story home,
corrals and an older barn. (Approximately 2.2 acres)

Tract #3 will be the combination of both tracts 1 & 2.

Terms:  If the farm is sold as a complete unit, the terms are as follows: The closing will be on or before December 31, 2009. A payment equal to 10% of the selling price will be due the day of the auction. An additional 10% payment will be due Jan 15, 2009. The balance will be seller financed with terms as listed below.

If the farm land and building site sell separately, the terms are as follows: 

Tract #1 Terms: A payment equal to 20% of the purchase price will be due the day of the auction. The remainder will seller financed with terms as described below. The closing will be on or before March 1, 2009, subject to approval of plat by Adams County Board of Supervisors.

Seller Financing Terms: The remaining balance will be due in 10 annual equal payments with the first payment due January 15, 2011 and the final payment due January 15, 2020. The interest rate will be based on the minimum applicable interest rate allowed by the IRS published for the month of closing. Note-Rate for November 2009 is 4.01%. Absolutely no pre-payment or early payments will be allowed. Seller financing will be secured by a Note & Mortgage and First Deed of Trust.

Tract #2 Terms:  If acreage is sold as a separate tract, a payment of 20% of purchase price due the day of the auction. The balance will be due at closing, on or before March 1, subject to approval of plat by Adams County Board of Supervisors.

The 2009 and all prior taxes will be paid by the sellers. Title insurance fees will be paid equally by the buyers and sellers.  

Possession: Full possession for the 2010 crop year will be granted to the buyer. Possession of Tract #2, if sold separately, will be at closing.

All buildings, improvements and equipment sell in as is condition. Ruhter Auction & Realty Inc is the agent for the seller.

Due to the possibility of incorrect information and typographical errors, the auctioneer, owner and printer will not be held responsible for any errors that might appear in this advertisement. However, every effort has been made to describe the sale items accurately. The auctioneer's announcements on day of sale will take precedence over printed matter.