Amherst Auction Property Information Packet · 905 S. Fillmore St., Ste 102 · Amarillo, TX 79101 CliftLandAuctions.com 800.299.LAND 5263 Revised 2‐2‐2018 AUCTION TERMS & CONDITIONS

905S.FillmoreSt.,Ste102· Amarillo,TX79101CliftLandAuctions.com800.299.LAND 5263

Revised2‐2‐2018

AUCTIONTERMS&CONDITIONSPROCEDURE:ThisonlineauctionisfortheAmherstGrain&Fertilizer,Inc.facilitiesand8.68 Acresandwillbeofferedinone 1 individualtract.Onlinebiddingwilltakeplacebeginningat8:00amCDTFriday,March23,2018andwill“softclose”at12:00noonCDTThursday,March29,2018.At12:00noonCDTonThursday,March29,2018,biddingwillcontinuein iveminuteincrementsuntil iveminuteshavepassedwithnonewbids.BIDDERQUALIFICATION:YOURBIDDINGISNOTCONDITIONALUPONFINANCING,sobesureyouhavearranged inancing,ifneeded,andarecapableofpayingcashatclosing.PotentialbiddersmustregistertobidatthisauctionthroughourCliftLandapp.ThisappisavailableonourwebsiteatCliftLandAuctions.com/online‐auctions.YoumayalsodownloadthisappfromGooglePlayortheAppleAppStoretoyourmobiledevices.YourregistrationmustbeapprovedbyCliftLandAuctionsbeforeyoucanbid.Youmustagreetotheauctiontermsandconditionsduringtheregistrationprocess.BUYER’SPREMIUM:A ivepercent 5% BuyerPremiumisineffectonyourpurchase.TheBuyerPremiumwillbeaddedtothe“AuctionPrice”todeterminethe“SalesPrice”or“ContractPrice”.ACCEPTANCEOFBIDPRICES:ThisisanAbsoluteAuction.Thesuccessfulbidderwillsignapurchaseagreementwithintwo 2 hoursofthecloseoftheauction.DOWNPAYMENT:Tenpercent 10% downpaymentuponsigningapurchaseagreementThedownpaymentmaybepaidintheformofpersonalcheck,businesscheck,cashier’scheck,orwiretransfer.Theremainderofthepurchasepriceispayableincashatclosing.REALESTATETAXESANDASSESSMENTS:ThePropertyTaxeswillbeproratedtothedateofclosing,andSellershallhavepaidallPropertyTaxesforprioryearsbeforeclosing.TheBuyerwillberesponsibleforany“rollback”inthepropertytaxes.TheBuyerwillberesponsibleforalladditionaltaxesimposedafterthedateofexecutionoftheSpecialWarrantyDeedbysellerasaresultofanychangeinuseofanypartofthesubjectproperty,theintentbeingthatallsuchadditionaltaxesshallbetheresponsibilityoftheBuyerandtheBuyer’sheirs,personalrepresentativesandassigns.BROKERPARTICIPATION:ContacttheAuctionof icetoobtainthebrokerparticipationguidelines.CLOSING:WilltakeplaceonorbeforeMay11,2018,orassoonasapplicableclosingdocumentsarecompleted.POSSESSION:Possessionwillbegivenatclosingandfunding.TITLE:SellershallprovideanOwner’sPolicyofTitleInsuranceonthesurfacetractintheamountofthepurchaseprice.Buyerwillberesponsibleforallexpensesrelatedtoacquiringamortgagee’stitlepolicy,ifrequired.SellershallexecuteaSpecialWarrantyDeedconveyingthesurfaceestatetotheBuyer.PROPERTYCONDITION:PropertytobesoldASIS—WHEREISandnowarrantyorrepresentation,eitherexpressorimplied,willbegiventoanybidderorBuyer.BuyershallreleaseSellerofanyandallliability.EASEMENTSANDLEASES:Saleofthepropertyissubjecttoanyandalleasementsofrecordandanyandallleases.SURVEY:Sellerhasanexistingsurvey.Sellerwillnotprovideanewsurveyorrecertifytheoldsurvey.MINERALRIGHTS:Allmineralrightsownedwillconvey.AGENCY:CliftLandAuctions,LPandCliftLandBrokersanditsrepresentativesareexclusiveagentsoftheSeller.DISCLAIMERANDABSENCEOFWARRANTIES:Allinformationcontainedinthepromotionandadvertisementofthisauctionisbelievedtobeaccurate,butissubjecttoveri icationbyallpartiesrelyingonit.Noliabilityforitsaccuracy,errorsoromissionsisassumedbytheseller,thebroker,theauctioncompanyoranyoftheirrespectiverepresentatives.Allsketchesanddimensionsinthisbrochureareapproximate.Allacreagesareapproximateandhavebeenestimatedbasedonlegaldescriptionsoraerialphotographs.Thepropertyisbeingsoldonan“ASIS,WHEREIS”basis,andnowarrantyorrepresentation,eitherexpressorimplied,concerningthepropertyismadebythesellerortheauctioncompany.Eachpotentialbidderisresponsibleforconductinghisorherownindependentinspections,investigations,inquiries,andduediligenceconcerningtheproperty.Biddersshouldcompletedthisduediligencepriortobiddingonthisauction.Incrementsofbiddingareatthedirectionanddiscretionoftheauctioncompany.Theseller,brokerandauctioncompanyreservetherighttoprecludeanypersonfrombidding,ifthereisanyquestionastotheperson’scredentials, itness,etc.Alldecisionsoftheauctioncompanyare inal.SELLER:AmherstGrain&Fertilizer,Inc.

TXAuctioneerLicense#16802

TXBrokerLic#588891

Of ice/ScaleHouse·GrainFacilities·Scales·House/Barns·GreatGrainProducingArea

InformationMeeting/OpenHouseWednesday,March7that1:00pmLocation:AmherstGrain&Fertilizer1599FM37·Amherst,TX79312EricTurpen,AssociateBrokerLittle ieldTXBranchOf ice

MemberTexasAuctioneersAssoc.&NationalAuctioneersAssoc. 5%BuyerPremium

DownloadourCliftLandAuctionapptoyourmobiledeviceorbiddirectlyfromourwebsite.

800.299.LAND 5263CliftLandAuctions.com

ONLINEBIDDINGONLYBiddingbeginsat8:00amCDTFriday,March23rdandendsat12:00noonCDTThursday,March29th.

Auctionwill“softclose”with5minuteincrementsuntil5minuteselapseswithnonewbids.

PropertyInformationPacketV02022018

‐2‐C L I F T L A N D A U C T I O N S , L P

TheAmherstGrain&Fertilizerfacility,locatedinLambCounty,TexaseastofAmherstonFarmtoMarket37,offersadestinationforgrainintheAmherstarea.Inthepast,theelevatorhasreceivedcorn,milo,wheat,soybeans,andsun lowers.Theprimarycropsreceivedbythisfacilityindescendingorderofvolumearemilo,corn,sun lowers,andwheat.Thiselevatorhasservicedalargeareaofproducers.Variousenterpriseshaveoperatedoutofthisfacility,including:

Dryfertilizerapplication Liquidfertilizersales Chemicalsales Seedsales Customchemicalapplication Truckingoperations Tiresales Haybrokerage Grainhandling

Thisauctionpropertyconsistsof8.68 acreswithapproximately516feetofhighwayfrontage,plusthefollowingfacilities:

Of iceBuilding ‐Includingof icefurnitureandequipment ‐Alistofpersonalorbusinessitemsthatdonotconveywillbeavailablepriortotheauction. Grainstorage— ‐2010wasthelastyeartheyreceivedgrain. ‐Lastpermittedfor583,000bushels. IncludesFlatandGroundStorage ‐ 2 500,000lb.tanks ‐ 2 1mil.lb.tanks ‐ 2 3mil.lb.tanks ‐ 1 6mil.lb.tank 36,000lb.pit Onelegreworkedin2009 Horizontalaugersandpansreworkedbeginningof2010 Dryer

‐Independentleg ‐1mil.lbsperdaycapacityat24%moisturecorn

70’digitaltruckscales Insulatedchemicalstoragebuilding Fourbayfertilizerstoragebarn 50’x100’metalbarnwithconcrete loor

1domesticwellforhouseandelevator

Threebedroom/onebathHouse

C L I F T L A N D A U C T I O N S , L P‐3‐

VolumeThefollowingvolumesarebaseduponthelast3yearsthattheelevatorreceivedgrain 2008,2009,and2010 .Volumesvarygreatlyonmarketprice,weather,andvariousotherconditions.Thefollowingvolumesareinmillionsofpounds.

EquipmentNoequipmentisavailable,thisauctionisforthefacilitiesonly.

Grain 2009 Range Average

Corn 12 0-26 15

Milo 40 0-90 65

Wheat 1 0-2 1

Sunflowers 7.5 0-7.5 5

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‐6‐C L I F T L A N D A U C T I O N S , L P C L I F T L A N D A U C T I O N S , L P‐7‐