buyer’s PROSPECTUS Wright County, MN Land Auction WRIGHT COUNTY LAND AUCTION 65 acres Steffes Group, Inc. 24400 MN Hwy 22 South, Litchfield, MN 55355 Eric Gabrielson MN47-006 (Agent), Ashley Huhn MN47-002, Randy Kath MN47-007, Scott Steffes MN14-51 320.693.9371 | SteffesGroup.com Auction Location: Steffes Group facility, 24400 MN Hwy 22 S, Litchfield, MN 55355. Land Location: From Waverly, MN 2 ½ miles N on Co Rd 8. Land will be on right (east) side of road. FRIDAY, MARCH 6, 2015 • 11AM Wallace Cates Estate, OWNER TERMS: Ten percent down upon signing purchase agreement with balance due at closing in 30 days. This is a 5% buyer’s premium auction. Contact Eric Gabrielson at Steffes Group, 701.238.2570
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buyer’sPROSPECTUS
Wright County, MN
LandAuction
WRIGHT COUNTY LAND AUCTION
65acres
Steffes Group, Inc. 24400 MN Hwy 22 South, Litchfield, MN 55355
Eric Gabrielson MN47-006 (Agent), Ashley Huhn MN47-002, Randy Kath MN47-007, Scott Steffes MN14-51
320.693.9371 | SteffesGroup.com
Auction Location: Steffes Group facility, 24400 MN Hwy 22 S, Litchfield, MN 55355. Land Location: From Waverly, MN 2 ½ miles N on Co Rd 8. Land will be on right (east)
side of road.
FRIDAY, MARCH 6, 2015 • 11AM
Wallace Cates Estate, OWNER
TERMS: Ten percent down upon signing purchase agreement with balance due at closing in 30 days. This is a 5% buyer’s premium auction.
Contact Eric Gabrielson at Steffes Group, 701.238.2570
2
TERMS & CONDITIONS• Auction staff will be at the sale site
approximately one hour prior to sale time.
• The successful bidder will be required to sign an Earnest Money Receipt and Purchase Agreement at the close of the real estate auction.
• A total deposit of 10% of the Purchase price will be required. Those funds will be placed in the Steffes Group Auction Trust Account as good faith money until closing.
• Purchasers who are unable to close because of insufficient funds will be in default and the deposit money will be forfeited.
• Balance of the purchase price must be paid in full with cashier’s check at closing on or before Wednesday, April 8, 2015.
• Seller will provide up-to date abstract at their expense and will convey property by Warranty Deed.
• 2015 Real Estate Taxes will be prorated to Date of Closing. Subsequent taxes and or special assessments, if any, to be paid by buyer. Real Estate Taxes are subject to reassessment under new owner.
• Closing Agent Fee will be shared equally between Buyer and Seller.
• The auction sale is for registered bidders and their guests. All bidding is open to the public and the property is offered for sale to qualified purchasers without regard to sex, race, color, religion, natural origin, or handicap.
• THIS IS A 5% BUYER’S PREMIUM AUCTION. FIVE PERCENT WILL BE ADDED TO THE FINAL BID TO ARRIVE AT THE CONTRACT SALE PRICE.
• THE PROPERTY WILL BE SOLD AS IS WITH NO WARRANTIES EXPRESSED OR IMPLIED.
• THE PROPERTY WILL BE SOLD SUBJECT TO OWNER CONFIRMATION.
PROPERTY SOLD WITHOUT WARRANTY All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Broker or Auctioneer, their Employees or Agents. The property will be sold AS IS and without any warranties or representations, express or implied.SUCCESSFUL BIDDER The successful bidder of the property shall be determined by competitive bidding. Should any dispute arise between bidders, the auctioneer shall have the right to make the final decision to either determine the successful bidder or to re-offer the property that is in dispute. The auction will be recorded and the auctioneer’s records shall be conclusive in all respects.CLOSING The successful bidder will be required, at the close of the auction, to complete the Earnest Money Receipt and Purchase Agreement. A sample contract is included in this Prospectus. Balance of the purchase price is due in cash at closing on or before Wednesday, April 8, 2015. Closing will take place at a closing company mutually agreeable to both Buyer and Seller.SELLER’S PERFORMANCE The Seller has agreed to the terms of the sale as published. However, the Broker and Auctioneer make no warranties or guaranties as to the Seller’s performance.
AGENCY DISCLOSURE Steffes Group, Inc. is representing the Seller and will be paid by the seller.POSSESSION Possession will be at closing unless otherwise agreed to in writing and agreeable by buyer and seller.MINERAL RIGHTS All mineral rights, if any, held by Seller will be transferred upon closing. However, the Seller does not warrant the amount or adequacy of the mineral rights.ENVIRONMENTAL DISCLAIMER The Seller, Broker and Auctioneers do not warrant with respect to the existence or nonexistence of any pollutants, contaminants or hazardous waste prohibited by federal, state or local law. Buyer is responsible for inspection of the property prior to purchase for conditions including but not limited to water quality, and environmental conditions that may affect the usability or value of the property. No warranties are made as to the existence or nonexistence of water wells on the property, or the condition of any wells.EASEMENTS AND SURVEY The property to be sold is subject to any restrictive covenants or easements of record and any results that an accurate survey may show.
BIDDING PROCEDURE As a buyer you have two objectives to accomplish:1. Purchasing the property.2. Purchasing the property at a price you can afford. How is this accomplished?1. Estimate comparative value2. Experienced buyers always decide what to pay before the bidding begins.3. Inspect the property carefully.4. Compare with other properties available in the area.5. Check the selling price of previously sold properties.6. Discuss your buying plans with a lender. Have your financing arrangements made in advance.7. This sale is not subject to financing.AVOID OVER OR UNDER BIDDING• Always bid on a property toward a
price.• Establish that price before the
bidding begins. By doing this you will avoid getting caught up in the auction excitement and pay a price that is too high for the market or one that you cannot afford. It will also make you confident to bid to your established fair market value. Many bidders who do not plan ahead end up with regrets after the auction because they were too nervous or uncertain about their judgment to bid.
THE BIDDING STRATEGY• Research and know the value of the
property.• Have your financing arranged before
the auction.• Establish your highest and best bid
before the bidding begins.• Make your bids promptly to force
other bidders up or out without delay.
The Terms and Conditions of Sale are set forth upon this page in this Buyer’s Prospectus and the Earnest Money Receipt and Purchase Agreement.
The information set forth is believed to be accurate. However, the owner of the properties and Steffes Group make no warranties or guaranties expressed or implied. Information contained in this document was collected from sources deemed to be reliable and is true and correct to the best of the writer’s knowledge. Auctioneers and owners will not be held responsible for advertising discrepancies or inaccuracies. All ANNOUNCEMENTS ON AUCTION DAY TAKE PRECEDENCE OVER PREVIOUSLY ADVERTISED INFORMATION. Prospective buyers are advised to consult with an attorney of their choice with respect to the purchase of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.
TERMS & CONDITIONS.
3
Wright County, MN - Marysville Map
4
732.09HEL
29T119 R26Marysville
30T119 R26
Marysville
²
USDA FSA maps are for FSA Program administration only. This map does not represent a legal survey or reflect actual ownership; rather it depicts the information provided directly from the producer and/or the 2013 NAIP imagery. The producer accepts the data 'as is' and assumes all risks associated with its use. The USDA Farm Service Agency assumes no responsibility for actual or consequential damage incurred as a result of any user's reliance on this data outside FSA Programs. Wetland identifiers do not represent the size, shape, or specific determination of the area. Refer to your original determination (CPA-026 and attached maps) for exact boundaries and determinations or contact NRCS.
0 260 520130Feet
Wright County, Minnesota
2015 Program YearMap Created January 26, 2015
Common Land Unit
Non-cropland
Cropland
Conservation Reserve Program
Tract Boundary
Section Line
Wetland Determination Identifiers&- Restricted Use
") Exempt from Conservation Compliance Provisions
#*
Limited Restrictions
Tract 5572
Farm 5519United StatesDepartment ofAgriculture
Unless otherwise noted: crops are non-irrigatedCorn = yellow for grain
Soybeans = common soybeans for grainWheat = HRS for grain or HRW for grain
Oats and Barley = Spring for grainRye = for grainPeas = process
Alfalfa, Mixed Forage AGM, GMA, IGS = for forageBeans = Dry Edible
NAG = for GZCanola = Spring for seed
Sunflower = oil or non-oil for grain
1:4,800
732.09HEL
29T119 R26Marysville
30T119 R26
Marysville
²
USDA FSA maps are for FSA Program administration only. This map does not represent a legal survey or reflect actual ownership; rather it depicts the information provided directly from the producer and/or the 2013 NAIP imagery. The producer accepts the data 'as is' and assumes all risks associated with its use. The USDA Farm Service Agency assumes no responsibility for actual or consequential damage incurred as a result of any user's reliance on this data outside FSA Programs. Wetland identifiers do not represent the size, shape, or specific determination of the area. Refer to your original determination (CPA-026 and attached maps) for exact boundaries and determinations or contact NRCS.
0 260 520130Feet
Wright County, Minnesota
2015 Program YearMap Created January 26, 2015
Common Land Unit
Non-cropland
Cropland
Conservation Reserve Program
Tract Boundary
Section Line
Wetland Determination Identifiers&- Restricted Use
") Exempt from Conservation Compliance Provisions
#*
Limited Restrictions
Tract 5572
Farm 5519United StatesDepartment ofAgriculture
Unless otherwise noted: crops are non-irrigatedCorn = yellow for grain
Soybeans = common soybeans for grainWheat = HRS for grain or HRW for grain
Oats and Barley = Spring for grainRye = for grainPeas = process
Alfalfa, Mixed Forage AGM, GMA, IGS = for forageBeans = Dry Edible
NAG = for GZCanola = Spring for seed
Sunflower = oil or non-oil for grain
1:4,800
732.09HEL
29T119 R26Marysville
30T119 R26
Marysville
²
USDA FSA maps are for FSA Program administration only. This map does not represent a legal survey or reflect actual ownership; rather it depicts the information provided directly from the producer and/or the 2013 NAIP imagery. The producer accepts the data 'as is' and assumes all risks associated with its use. The USDA Farm Service Agency assumes no responsibility for actual or consequential damage incurred as a result of any user's reliance on this data outside FSA Programs. Wetland identifiers do not represent the size, shape, or specific determination of the area. Refer to your original determination (CPA-026 and attached maps) for exact boundaries and determinations or contact NRCS.
0 260 520130Feet
Wright County, Minnesota
2015 Program YearMap Created January 26, 2015
Common Land Unit
Non-cropland
Cropland
Conservation Reserve Program
Tract Boundary
Section Line
Wetland Determination Identifiers&- Restricted Use
") Exempt from Conservation Compliance Provisions
#*
Limited Restrictions
Tract 5572
Farm 5519United StatesDepartment ofAgriculture
Unless otherwise noted: crops are non-irrigatedCorn = yellow for grain
Soybeans = common soybeans for grainWheat = HRS for grain or HRW for grain
Oats and Barley = Spring for grainRye = for grainPeas = process
Alfalfa, Mixed Forage AGM, GMA, IGS = for forageBeans = Dry Edible
NAG = for GZCanola = Spring for seed
Sunflower = oil or non-oil for grain
1:4,800
732.09HEL
29T119 R26Marysville
30T119 R26
Marysville
²
USDA FSA maps are for FSA Program administration only. This map does not represent a legal survey or reflect actual ownership; rather it depicts the information provided directly from the producer and/or the 2013 NAIP imagery. The producer accepts the data 'as is' and assumes all risks associated with its use. The USDA Farm Service Agency assumes no responsibility for actual or consequential damage incurred as a result of any user's reliance on this data outside FSA Programs. Wetland identifiers do not represent the size, shape, or specific determination of the area. Refer to your original determination (CPA-026 and attached maps) for exact boundaries and determinations or contact NRCS.
0 260 520130Feet
Wright County, Minnesota
2015 Program YearMap Created January 26, 2015
Common Land Unit
Non-cropland
Cropland
Conservation Reserve Program
Tract Boundary
Section Line
Wetland Determination Identifiers&- Restricted Use
") Exempt from Conservation Compliance Provisions
#*
Limited Restrictions
Tract 5572
Farm 5519United StatesDepartment ofAgriculture
Unless otherwise noted: crops are non-irrigatedCorn = yellow for grain
Soybeans = common soybeans for grainWheat = HRS for grain or HRW for grain
Oats and Barley = Spring for grainRye = for grainPeas = process
Alfalfa, Mixed Forage AGM, GMA, IGS = for forageBeans = Dry Edible
NAG = for GZCanola = Spring for seed
Sunflower = oil or non-oil for grain
1:4,800
732.09HEL
29T119 R26Marysville
30T119 R26
Marysville
²
USDA FSA maps are for FSA Program administration only. This map does not represent a legal survey or reflect actual ownership; rather it depicts the information provided directly from the producer and/or the 2013 NAIP imagery. The producer accepts the data 'as is' and assumes all risks associated with its use. The USDA Farm Service Agency assumes no responsibility for actual or consequential damage incurred as a result of any user's reliance on this data outside FSA Programs. Wetland identifiers do not represent the size, shape, or specific determination of the area. Refer to your original determination (CPA-026 and attached maps) for exact boundaries and determinations or contact NRCS.
0 260 520130Feet
Wright County, Minnesota
2015 Program YearMap Created January 26, 2015
Common Land Unit
Non-cropland
Cropland
Conservation Reserve Program
Tract Boundary
Section Line
Wetland Determination Identifiers&- Restricted Use
") Exempt from Conservation Compliance Provisions
#*
Limited Restrictions
Tract 5572
Farm 5519United StatesDepartment ofAgriculture
Unless otherwise noted: crops are non-irrigatedCorn = yellow for grain
Soybeans = common soybeans for grainWheat = HRS for grain or HRW for grain
Oats and Barley = Spring for grainRye = for grainPeas = process
Alfalfa, Mixed Forage AGM, GMA, IGS = for forageBeans = Dry Edible
NAG = for GZCanola = Spring for seed
Sunflower = oil or non-oil for grain
1:4,800
Wright County, MN - Marysville Aerial Map (Lines Approximate)
WRIGHT COUNTY, MN LAND AUCTIONLegal Description: 65+/- Acres located in N1/2 SE1/4 30-119-26 (Marysville Township) Tillable Acres: 31+/-Fenced Pasture Acres: 34+/-1 Building Entitlement Available at public auction is this 65 acre tract of land located NW of Waverly and NE of Howard Lake. This land features beautiful views, a 2 car garage, and a small livestock corral. It is located on a major tar road and is easily accessible. Join us March 6th for a chance to acquire this parcel of land.
USDA FSA maps are for FSA Program administration only. This map does not represent a legal survey or reflect actual ownership; rather it depicts the information provided directly from the producer and/or the 2013 NAIP imagery. The producer accepts the data ‘as is’ and assumes all risks associated with its use. The USDA Farm Service Agency assumes no responsibility for actual or consequential damage incurred as a result
of any user’s reliance on this data outside FSA Programs. Wetland identifiers do not represent the size, shape, or specific determination of the area. Refer to your original determination (CPA-026 and attached maps) for exact boundaries and determinations or contact NRCS.
5
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© Farm & Home Publishers, Ltd. 88 WRIGHT CO., MN
MARYSVILLE TOWNSHIPSECTION 31. Hackenmueller, Daniel
112. Emerick, Gregory 103. Linster, Stephen 104. Marquette Trust,
Ladonna 17SECTION 51. Cottrell, Darin 14SECTION 61. Nygaard, Jeffrey 52. LaPlant, William 83. Swanson, Kenneth 84. Swanson, Jane 11SECTION 81. Gertjejansen, Scott 20
2. Bernick, Howard 103. Stuhr, Leslie 104. Morris, George 7SECTION 91. Karls, Andrew 5SECTION 101. Bonk, Freddy 62. Cronin, Sean 10SECTION 111. Doimer, Steven 72. Cronin, Dolores 10SECTION 121. Katnis, Keith 72. Erickson, Floyd 10SECTION 131. Pfeifer Trust, Betty 10
SECTION 141. Solberg, Virgil 202. Richardson, Kimberlee
10SECTION 151. Gilmore, Michael 10SECTION 161. Gregorich, Samuel 52. Sorenson, Gene 53. Timmerman, Marilyn 10SECTION 171. Bednarchuk, Michael 112. Helmbrecht, Thomas 103. Thao, Tommy 104. Farrell, John 10SECTION 181. Merryville Farm 12
SECTION 201. Lafave, Leanne 112. Vick, Douglas 10SECTION 211. Peterson, John 102. Frank, James 133. Ronning, Kathryn 9SECTION 221. Belland, Melvin 13SECTION 231. Trowbridge, Patricia 102. Carlson, Michael 5SECTION 241. Carlson, Carolyn 102. Carlson Trust, Steven
103. Hartwig, Perry 11
4. Andries, Lawrence 155. Sarkinen, Gregg 106. Heckenlaible, Dale 207. Soupir, Donald 108. OBrien, Gary 109. Jordan, Alex 10SECTION 251. Sodahl, Patricia 5SECTION 261. Centennial Evang Free
Church 62. Keefe, Paul 10SECTION 271. Skramstad, David 10SECTION 281. Rasset, Jacob 52. Gagnon, Michael 15
3. Jenkins, James 5SECTION 301. Kalamaha, Kendal 10SECTION 311. Yager, Craig 52. Perra, Frank 73. Reardon, Benadette 17SECTION 321. Swatzke, Richard 15SECTION 331. Mengelkoch, Donald 15SECTION 341. Dahl, William 132. Fisher, Stephen 15SECTION 351. Veaderko, Daniel 9
UPDATES, QUESTIONS OR TO PURCHASE BOOKS AND WALL MAPSE-MAIL US AT: [email protected]
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Wright County, MN - Marysville Township Soil Map (Lines Approximate)
State: MinnesotaWrightCounty:30-119N-26WLocation:
Township: MarysvilleAcres: 31.91Date: 2/9/2015
Soils data provided by USDA and NRCS.
Soil Map
Area Symbol: MN171, Soil Area Version: 8Code Soil Description Acres Percent of field PI Legend NonIrr Class Productivity Index
1901B AngusLe Sueur complex, 1 to 5 percent slopes 12.48 39.1% IIe 94
106D2 Lester loam, 10 to 16 percent slopes, moderately eroded 9.66 30.3% IVe *e 67
106C2 Lester loam, 6 to 10 percent slopes, moderately eroded 5.92 18.6% IIIe 77
1362B Angus loam, 2 to 6 percent slopes 2.19 6.9% IIe 90
740 HamelGlencoe, depressional, complex, 0 to 3 percent slopes 1.44 4.5% IIw 93
106E Lester loam, 16 to 22 percent slopes 0.22 0.7% VIe *e 34
Weighted Average 81.9
Area Symbol: MN171, Soil Area Version: 8
*e: NRCS has omitted index. Values obtained from the NRCS eFOTG (http://efotg.sc.egov.usda.gov)
Soils data provided by USDA and NRCS.
7
2014 Property Tax Statement
TAX STATEMENT2013 Values for Taxes Payable in
PROPOSED TAXProposed Tax: 3,626.00
Sent in November 2013
PROPERTY TAX STATEMENTFirst-half Taxes:Second-half Taxes:Total Taxes Due in 2014:
2,191.002,191.004,382.00
Step
Step
Step
2
371,800
371,800
AG NHSTD
377,700
AG NHSTD
Estimated Market Value:
New Improvements/Expired Exclusions*:
Taxable Market Value:
Property Classification:
20142013
2014VALUES & CLASSIFICATION
Taxes Payable Year:
Improvements Excluded:
Sect-30 Twp-119 Range-026 UNPLATTED LAND MARYSVILLE TWP 65.00 AC TH PRT OF N1/2OF SE1/4&S1/2OF NE1/4DES BEG NE COR OF N1/2OF SE1/4TH N88D27'51"W ALG LN IF EXTED WOULD INT/SEC W LN OF S1/2OF NE1/4 31FT N FR SW COR
3
1Property Description:
Homestead Exclusion:377,700
Sent in March 2013
R211-000-304101
Taxpayer ID Number:
Property ID#:
WALLACE H CATES2490 CATES RNCHHAMEL MN 55340
Robert J HiivalaWRIGHT COUNTY AUDITOR/TREASURER
10 SECOND STREET N.W. ROOM 232BUFFALO, MN 55313-1194
763-682-7572 or 763-682-7584www.co.wright.mn.us
$$$REFUNDS?
You may be eligible for one or even two refunds to reduce your property tax.
Read the back of this statement to find out how to apply.
1. Use this amount on Form M1PR to see if you are eligible for a property tax refund.
2. Use these amounts on Form M1PR to see if you are eligible for a special refund.
(2687 )
(TOWN OF MARYSVILLE )
4,232.00
4,232.00
1,641.28
627.74
1,645.83317.15
4,232.00
3,597.00
3,597.00
1,646.91
615.63
1,004.49329.97
3,597.00
4,382.003,722.00
FIRE DEPT 51610-0 150.00Principal $ 150.00
Your Property Tax and Credits3. Your property taxes before credits4. Credits that reduce your property taxes
A. Agricultural market value creditB. Other credits
5. Property taxes after credits
Property Tax by Jurisdiction6. County
7. City or Town8. State General Tax9. School District A. Voter approved levies
B. Other local levies
10. Special Taxing Districts
11. Non-school voter approved referenda levies12. Total property tax before special assessments
13. Special assessments
14. YOUR TOTAL PROPERTY TAX AND SPECIAL ASSESSMENTS
125.00 150.00Special Assessments on Your Property
2,191.00
2,191.00
DE
TAC
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TUB
WITH
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PAYABLE 2014 1ST HALF PAYMENT STUB
PAYABLE 2014 2ND HALF PAYMENT STUB
ID Number:
Bill Number:
4,382.00
WALLACE H CATES
MAKE CHECKS PAYABLE & MAIL TO:Robert J HiivalaWright County Auditor/Treasurer10 Second Street N.W., Room 232Buffalo, MN 55313-1194
No Receipt Unless Requested. Your cancelled check is your receipt. This Receipt is void if check is not honored.
No Receipt Unless Requested. Your cancelled check is your receipt. This Receipt is void if check is not honored.
$$
$Property ID Number:
Property ID Number: FULL TAX AMOUNT:
SECOND 1/2 TAX AMOUNT DUE:PENALTY:
PENALTY:
TOTAL:
TOTAL:
FIRST 1/2 TAX AMOUNT DUE:
File by August 15. If this box is checked, you owe delinquent taxes and are not eligible.
WALLACE H CATES
6358
34586
If your address has changed please check this box and show the change on the back of this stub.
If your address has changed please check this box and show the change on the back of this stub.
ID Number:
Bill Number:
6358
34586
2490 CATES RNCHHAMEL MN 55340
2490 CATES RNCHHAMEL MN 55340
TO AVOID PENALTY PAY ON OR BEFORE: NOVEMBER 15
TO AVOID PENALTY PAY ON OR BEFORE: MAY 15
PLEASE READ THE BACK OF THIS STATEMENT FOR IMPORTANT INFORMATION
PLEASE READ THE BACK OF THIS STATEMENT FOR IMPORTANT INFORMATION
MAKE CHECKS PAYABLE & MAIL TO:Robert J HiivalaWright County Auditor/Treasurer10 Second Street N.W., Room 232Buffalo, MN 55313-1194
6358
R 211-000-304101
A.B.C.D.
R 211-000-304101
8
Abbreviated 156 EZ
9
Land Photos
10
Land Photos
11
Date: ______________________
Received of _________________________________________________________________________________________________________________________________________
Whose address is ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
SS # ________________________ Phone # ________________________ the sum of ________________________ in the form of ________________________ as earnest money and in part payment of the purchase of real estate sold by Auction and described as follows:
____________________________________________________________________________________________________________________________________________________This property the undersigned has this day sold to the BUYER for the sum of ································································································· $ _____________________Earnest money hereinafter receipted for ······················································································································································ $ _____________________Balance to be paid as follows ····································································································································································· $ _____________________1. Said deposit to be placed in the Steffes Group, Inc. Trust Account until closing, BUYERS default, or otherwise as agreed in writing by BUYER and SELLER. By this deposit BUYER acknowledges purchase of the real estate subject to Terms and Conditions of this contract, subject to the Terms and Conditions of the Buyer’s Prospectus, and agreestocloseasprovidedhereinandtherein.BUYERacknowledgesandagreesthattheamountofdepositisreasonable;thatthepartieshaveendeavoredtofixadepositapproximatingSELLER’SdamagesuponBUYERSbreach;thatSELLER’SactualdamagesuponBUYER’Sbreachmaybedifficultorimpossibletoascertain;thatfailureto close as provided in the above referenced documents will result in forfeiture of the deposit as liquidated damages; and that such forfeiture is a remedy in addition to SELLER’S other remedies.2. Prior to closing SELLER at SELLER’S expense shall furnish BUYER an abstract updated to a current date showing good and marketable title. Zoning ordinances, building and use restrictions and reservations in federal patents and state deeds, existing tenancies, easements and public roads shall not be deemed encumbrances or defects.3. If the SELLER’S title is not insurable or free of defects and cannot be made so within sixty (60) days after notice containing a written statement of defects is delivered to SELLER, then said earnest money shall be refunded and all rights of the BUYER terminated, except that BUYER may waive defects and elect to purchase. However, if said sale is approved by the SELLER and the SELLER’S title is marketable and the buyer for any reason fails, neglects, or refuses to complete purchase, and to make payment promptly as above set forth, then the SELLER shall be paid the earnest money so held in escrow as liquidated damages for such failure to consummate the purchase. PaymentshallnotconstituteanelectionofremediesorprejudiceSELLER’SrightstopursueanyandallotherremediesagainstBUYER,included,butnotlimitedtospecificperformance. Time is of the essence for all covenants and conditions in this entire agreement.4. Neither the SELLER nor SELLER’S AGENT make any representation of warranty whatsoever concerning the amount of real estate taxes or special assessments, which shall be assessed against the property subsequent to the date of purchase.5. Minnesota Taxes: SELLER agrees to pay ____________________ of the real estate taxes and installment of special assessments due and payable in ____________________ BUYER agrees to pay ____________________ of the real state taxes and installments and special assessments due and payable in ____________________ SELLER warrants taxes for ____________________ are ____________________ Homestead, ____________________ Non-Homestead. SELLER agrees to pay the Minnesota State Deed Tax.6. North Dakota Taxes: ________________________________________________________________________________________________________________________________7. The property is to be conveyed by ____________________ deed, free and clear of all encumbrances except special assessments, existing tenancies, easements, reservations and restrictions of record.8. Closing of the sale is to be on or before ______________________________________________________________________________________ Possession will be at closing.9. This property is sold AS IS, WHERE IS, WITH ALL FAULTS. BUYER is responsible for inspection of the property prior to purchase for conditions including but not limited to water quality, seepage, septic and sewer operation and condition, radon gas, asbestos, presence of lead based paint, and any and all structural or environmental conditions that may affect the usability or value of the property.10. The contract, together with the Terms and Conditions of the Buyer’s Prospectus, contain the entire agreement and neither party has relied upon any oral or written representations, agreements, or understanding not set forth herein, whether made by agent or party hereto. This contract shall control with respect to any provisions that conflictwithorareinconsistentwiththeBuyer’sProspectusoranyannouncementsmadeatauction.11. Other conditions: Subject to easements, reservations and restrictions of record, existing tenancies, public roads and matters that a survey may show. Seller and Seller’s agent DO NOT MAKE ANY REPRESENTATIONS OR ANY WARRANTIES AS TO MINERAL RIGHTS, TOTAL ACREAGE, TILLABLE ACREAGE OR BOUNDARY LOCATION.12: Any other conditions: ______________________________________________________________________________________________________________________________13. Steffes Group, Inc. stipulates they represent the SELLER in this transaction.
SteffesGroup.comEARNEST MONEY RECEIPT AND PURCHASE AGREEMENT
In Cash at Closing
Buyer:
Steffes Group, Inc.
Seller:
Seller's Printed Name & Address:
Earnest Money Receipt & Purchase Agreement
Friday, March 6, 2015 | 11AMWR
IGH
TC
OU
NT
YMN Land Auction
WRIGHT COUNTY LAND AUCTIONSteffes Group, Inc.
24400 MN Hwy 22 South, Litchfield, MN 55355 Eric Gabrielson MN47-006 (Agent), Ashley Huhn MN47-002,
Randy Kath MN47-007, Scott Steffes MN14-51320.693.9371 | SteffesGroup.com
Wright CountyMinnesota
2/9/2015
map center: 45° 5' 6.01, 93° 59' 51.76
scale: 4760
Aerial Map
30-119N-26W
Field borders provided by Farm Service Agency as of 5/21/2008. Aerial photography provided by Aerial Photography Field Office.
Wright CountyMinnesota
2/9/2015
map center: 45° 5' 6.01, 93° 59' 51.76
scale: 4760
Aerial Map
30-119N-26W
Field borders provided by Farm Service Agency as of 5/21/2008. Aerial photography provided by Aerial Photography Field Office.
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