Columbia Basin (Franklin County) Farm Ground Auction

PROCEDURE: The property will be offered in 2 individual parcels, any combination of parcels and as a total 318 +/- acre unit. There will be open bidding on all parcels and combinations during the auction as determined by the Auctioneer. Bids on parcels, parcel combinations, and the total property may compete.

DOWN PAYMENT: 10% down payment on the day of auction for individual parcels or combinations of parcels. The down payment may be made in the form of cashier's check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

ACCEPTANCE OF BID PRICES: All final bid prices are subject to the Seller's acceptance or rejection. All successful bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.

DEED: Seller shall provide a Warranty Deed sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.

EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer(s), at Seller's expense, an updated title commitment prior to closing. The cost of providing an Owner's Title Policy shall be paid for by Seller at closing.

CLOSING: The balance of the purchase price is due at closing. The targeted closing date will be approximately 45 days after the auction or as soon thereafter upon completion of the final title commitment and Seller's closing documents. Escrow costs for closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs, if any shall be paid by the Buyer(s).

POSSESSION: Possession will be delivered at closing subject to tenant and seller rights for the 2024 crop and subject to a current farm lease that runs through November 1, 2026.

FARM LEASE:  The Property is sold subject to a Farm Lease that terminates on November 1, 2026.  Annual rent for the farm lease is $525.00 per acre, based on an agreed upon 290 acres.  The tenant is responsible for all power and water costs and maintenance and repair of the irrigation system.  The tenant also holds a First Right of Refusal to Purchase the subject property.  The Tenant will have 30 days to exercise their option to purchase the property upon the same terms and conditions outlined in the Purchase and Sale Agreement.

REAL ESTATE TAXES: Seller shall pay the 2024 real estate taxes due and payable in 2024 as well as the 2024.  Buyer shall assume any taxes thereafter. Seller to pay any irrigation assessments due in 2024. Buyer shall assume any irrigation assessments due in 2025 and thereafter.

ACREAGE: All parcel acreages, dimensions, and proposed boundaries are approximate and have been estimated based on county tax parcel data, county GIS and/or aerial mapping.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidder's safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

EASEMENTS: Subject to any and all existing easements.

AGENCY: Musser Bros. Inc. and its 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 Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTEDMATERIAL OR ANY OTHER ORAL STATEMENTS MADE.