AUCTION +/- 131 Acres, 2 Tracts, IUKA TWP. Marion County, IL. July 28th

Property Description

LAND AUCTION
Jordan D Lewis Jr Trust
+/- 131 Acres, 2 Tracts

Part of section 18, T2N-R4E, Iuka, TWP.
Marion County, IL.

Auction Time & Date:
Thursday, 11:00 AM, July 28th

Auction Location:
Salem Country Club
700 Divot Dr, Salem, IL 62881

Buyer receives owners share of the 2022 crop.
One third owner, two thirds tenant, crop lease.
Half mile rows, level field.
Mature Marketable Timber.
Excellent Hunting and Recreational Opportunities.

T1 and T2 shall be offered individually and in combination with one another. Bidding shall remain open until auctioneer announces bidding closed.
The auction will be conducted publicly with online bidding available for pre-registered online bidders.

The cost of the survey shall be split equally between buyer and seller.
Total surveyed acres:  +/- 132.58 Acres

T1: +/- 91.51 SURVEYED ACRES
+/- 84.50 Tillable Acres, 99.4 PI
Subject to an ingress egress easement for T2.  Said easement is 15’ in width running along the east side of T1’s field. Refer to yellow dashed lines on map. To be described by survey.
Buyer survey cost $ 650.00 due at closing.

T2: +/- 41.07 SURVEYED ACRES
+/- 37.57 Wooded Acres
+/- 3.5 Tillable Acres
Buyer survey cost $ 650.00 due at closing.
Access to T2 shall be a 15' ingress egress easement running along the east side of  T1's field,
refer to yellow dashed lines on map. To be described by survey.

Assessor Parcels:
+/- 31 Acres, PIN# 1318200015 Real Estate Tax: $431.18
+/- 80 Acres, PIN# 1318400001 Real Estate Tax: $933.22
+/- 20 Acres, PIN# 1319200001 Real Estate Tax: $ 48.70

Land Broker and Auctioneer
Travis Selby 217.304.1686
IL Lic.# 441001485

    AUCTION TERMS AND CONDITIONS:

+/-131 acres Marion County, Illinois

Procedure:  T1 and T2 shall be offered individually and in combination with one another. Bidding shall remain open until auctioneer announces bidding closed. The auction will be conducted publicly with online bidding available for pre-registered online bidders. Seller reserves the right to accept or reject any and/or all bids.

Online Bidding Procedure:  Online pre-bidding begins on Monday, July 25th, 2022, at 8:00 AM closing Thursday, July 28th, 2022, at the close of live the event. All bids on the tracts will be visible online; the identity of bidders is confidential.  Server and Software Technical Issues: In the event there are technical difficulties related to the server, software, or any other online auction-related technologies, Ag Exchange reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Ag Exchange shall be held responsible for a missed bid or the failure of the software to function properly for any reason. E-mail notification will be sent to registered bidders with updated information as deemed necessary by Ag Exchange.

BIDDING IS NOT CONDITIONAL UPON FINANCING.

Acceptance of Bid Prices/Contracts: All successful bidders will sign a sale contract at the auction site immediately following the close of the bidding.

Down Payment: A 10% earnest money deposit of the total contract purchase price will be due immediately after being declared the buyer. The down payment may be paid in the form of a personal check, business check, or cashier’s check. The balance of the contract purchase price is due at closing.

Closing: Closing shall take place 33 days after auction day, or as soon thereafter as applicable closing documents are completed. The anticipated closing date shall be Tuesday, August 30th.

Possession: Possession will be given at closing subject the 2022 1/3 owner, 2/3 farmer crop lease. Buyer shall receive the owner’s 1/3 share of the 2022 crop.

Survey: A new survey shall be provided where there is no existing legal description. Any need for a new survey shall be determined solely by the seller. The cost of a new survey will be split equally between buyer and seller. The type of survey performed shall be at the seller’s option and sufficient for providing title insurance.
Final surveyed acreage amounts are:
T1: 91.51 Acres.  Buyer’s survey cost: $ 650.00 due at closing
T2: 41.07 Acres.  Buyer’s survey cost: $ 650.00 due at closing
Whole Tract, T1 + T2: 132.58 Acres. Buyer’s survey cost: $1,300.00 due at closing

Title: Sellers shall provide an Owner’s Policy of Title Insurance in the amount of the purchase price and shall execute a Trustee’s deed conveying to the Buyer(s). Sellers shall pay the premium for the Title Insurance Policy and the seller’s search charges. Commitments for Title Insurance will be available for review at the office of the auctioneer and at the auction site. Bidders shall be deemed to have reviewed and approved the Title Commitments by submitting bids.

Real Estate Taxes and Assessments: Buyer will assume and pay 100% of the 2022 real estate tax due and payable in 2023.

Mineral Rights: The sale of the property shall include all mineral rights owned by the seller.

Agency: Ag Exchange Inc. and their representatives are exclusive agents of the Seller.
Disclaimer and Absence of Warranties: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the sales contract.
ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

The property is being sold on an as is basis, and no warranty or representation either expressed or implied, concerning the condition of the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning this property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the sellers or the auction company. All sketches and dimensions in this brochure are approximate. Photographs are used for illustrative purposes only. Conduct at the auction and increments of the bidding are at the discretion of the auctioneer. The sellers and the auction company reserve the right to preclude any person from bidding and to remove any person from the auction if there is any question as to the persons credentials, fitness, conduct, etc. All decisions of the auctioneer are final.
Seller’s:  Elizabeth Lewis and Michael Lewis, Co Trustees of the Jordan D Lewis Jr Living Trust.