SELLING AT ABSOLUTE AUCTION
The Chamberlain Family Estate
222 Acres +/- in Shelby County, IL
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Bidding Is By The Acre, Times The Acre In The Tract
ABSOLUTE Auction - No Minimums - No Reserves
142.6 Acres +/- offered in three tracts in Oconee Township and one tract of 79.76 Acres +/- in Herrick Township, Shelby County. The auction will be a one extend, all extend auction. If a bid is placed in the last 5 minutes of the auction, the bidding on all tracts will extend for 5 minutes. If tracts sell separately, a survey will be provided and acreage and price adjustments will be made based off of the per acre price. If tracts 1, 2 & 3 sell to the same buyer, the current survey will be provided. There will be no new survey for Tract 4. Closing will be in thirty days. Interested parties are encouraged to inspect the farm personally at their convenience. Buildings will be open for inspection at the Open House on Friday, August 20th at 1:00 p.m. Interested parties are encouraged to attend if they have any questions. Signs are posted on each tract.
Tract 1: 33.46 acres +/- with 27.51 acres tillable in Section 10 of Oconee Township with road frontage on 350 East Road. Predominant soil types of Bluford and Oconee soils. Includes a 60’ x 108’ Morton building and two approximately 15,000 bushel grain bins. Access from 200 North Road is by recorded easement shown on the survey. University of Illinois estimated yields of 138 bushels per acre corn and 44 bushel per acre soybeans. Current rental income of $165 per acre will pass to the buyer. The new buyer will receive all income from the farm for the 2021 year. A copy of the farm lease is available in the documents tab of this website. Taxes will be paid by the buyer and estimated by the acre for closing. Taxes with all improvements were $4,627.24 under property ID# 1122-10-00-200-001. Earnest Money: $25,000 upon contract signing. Selling by the acre times 33.46 +/- subject to final survey.
Tract 2: 58.35 acres +/- with 52.14 acres tillable in Section 10 of Oconee Township with road frontage on 350 East Road and 150 North Road. Predominant soil types of Bluford and Oconee soils. University of Illinois estimated yields of 138 bushels per acre corn and 44 bushel per acre soybeans. Current rental income of $165 per acre will pass to the buyer. The new buyer will receive all income from the farm for the 2021 year. A copy of the farm lease is available in the documents tab of this website. Taxes will be paid by the buyer and estimated by the acre for closing. Taxes with all improvements were $4,627.24 under property ID# 1122-10-00-200-001. Earnest Money: $25,000 upon contract signing. Selling by the acre times 58.35 +/- subject to final survey.
Tract 3: 50.79 acres +/- with 44.90 acres tillable in Section 10 of Oconee Township with road frontage on 200 North Road. Predominant soil types of Bluford and Oconee soils. University of Illinois estimated yields of 138 bushels per acre corn and 44 bushel per acre soybeans. Current rental income of $165 per acre will pass to the buyer. The new buyer will receive all income from the farm for the 2021 year. A copy of the farm lease is available in the documents tab of this website. Taxes will be paid by the buyer and estimated by the acre for closing. Taxes with all improvements were $4,627.24 under property ID# 1122-10-00-200-001. Earnest Money: $25,000 upon contract signing. Selling by the acre times 50.79 +/- subject to final survey.
Tract 4: 79.76 Acres +/- in Herrick Township, Shelby County with road frontage on 125 North Road on the curve. Approximately 68 acres +/- tillable consisting of predominant soil types of Holton and Wirt Silt loams. University of Illinois estimated yields of 139 bushels per acre corn and 45 bushel per acre soybeans. Taxes are $645.38 under property ID# 0723-07-00-300-003 Earnest Money: $25,000 upon contract signing. Selling by the acre times 79.76. The farm is under a current lease which expires and makes it available to farm for the 2022 season. It is currently cash rented for $165 per acre. The new buyer will receive all income from the farm for the 2021 year and will pay taxes as well. A copy of the farm lease is available in the documents tab of this website.
PRIOR TO BIDDING ON ANY PROPERTY
IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS
DO NOT BID
BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE PROPERTY UNDER THE FOLLOWING TERMS AND CONDITIONS:
UPON CONCLUSION OF THE AUCTION: The Winning Bidder will be emailed a Real Estate Contract to print and required to fully and correctly complete and properly sign without any modifications and return the completed, signed contract to Aumann Auctions, Inc. by email, fax, certified mail or delivered in person by 4:00 PM of the day following the auction. Along with the completed, signed contract, the Winning Bidder will be required to send the specified non-refundable earnest money deposit as stated in the property description. This non-refundable earnest money deposit will be held in escrow until closing and that amount will then be credited to the Buyer as part of the purchase price of the property. Wire transfer instructions and escrow agreement forms will be provided to the Buyer along with the contract after the auction. Purchaser shall be responsible for all wire transfer fees.
Successful bidder not executing and returning the completed contract and earnest money deposit by 4:00 PM the day after the auction will be considered in default. Such default by the Successful Bidder will result in that Bidder’s liability to both the Seller and Aumann Auctions, Inc. Seller shall have the right to (a) declare this contractual agreement cancelled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the property either publicly or privately with Aumann Auctions, Inc. and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding costs of the property, the expenses of both sales, legal and incidental damages of both the Seller and Aumann Auctions, Inc. In addition, Aumann Auctions, Inc. also reserves the right to recover any damages separately from the breach of the Buyer.
Both the Successful Bidder and Seller shall indemnify Aumann Auctions, Inc. for and hold harmless Aumann Auctions, Inc. from any costs, losses, liabilities, or expenses, including attorney fees resulting from Aumann Auctions, Inc. being named as a party to any legal action resulting from either Bidders or Sellers failure to fulfill any obligations and undertakings as set forth in this contractual agreement.
REAL ESTATE TERMS:
• BUYER’S PREMIUM: A 4% Buyer’s Premium will be added to the winning bid to determine the total purchase price of the property.
• DATE OF CLOSING: The closing will take place within 30 days from the date of the auction and as specified in the Contract for Sale of Real Estate. All taxes will be prorated to the day of closing.
• NO CONTINGENCIES: This Real Estate contract is not contingent on or subject to Buyers financing, appraisal, survey or inspections of any kind or any other contingencies as agreed to by bidders at registration prior to bidding.
• TITLE: Buyer is entitled to and the Seller will provide clear, insurable title for property upon full payment.
• ZONING AND EASEMENTS: Property is being sold subject to any and all easements of record. Property is subject to all state and local zoning ordinances.
• AERIAL PHOTOS, Images and Drawings: are for illustration purposes only and not surveyed boundary lines unless specified.
• AGENCY: Aumann Auctions, Inc. is the Agent and Representative of the Seller.
• CONDITION OF PROPERTY: Property is sold 'AS IS, WHERE IS' condition. Aumann Auctions, Inc, the Sellers nor their representatives, agents, or employees make express or implied warranties or representations of any kind. Each potential bidder is responsible for
conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property prior to bidding on the subject property. All information presented in the brochure, website, and all other mediums is subject to verification by all parties relying on it. All sketches and dimensions are approximate. No liability for its accuracy, errors, or omissions is assumed by the Seller, Aumann Auctions, Inc. or their Agents or Representatives. Buyer and or
Bidder agrees to hold harmless and indemnify Aumann Auctions, Inc. and their Agents and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
• DISCLAIMER: All information included herein was derived from sources believed to be correct, but is not guaranteed. NEW DATA, CORRECTIONS, and CHANGES: Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.
• DISPUTES: Any dispute between Aumann Auctions, Inc or the Sellers or their Agents or Representatives and the Buyer(s) will be (a) arbitrated in Montgomery County, IL or (b) tried in a court of jurisdiction in Montgomery County, Illinois at the discretion of both the Seller and Aumann Auctions, Inc.
BIDDING AND REGISTRATION INFORMATION
BIDDER VERIFICATION: Bidding rights are provisional, and if identity verification is questionable, Aumann Auctions, Inc. has the right to reject the registration, and bidding activity will be terminated. The Seller and Aumann Auctions, Inc. reserve the right to preclude any person from
bidding if there is any question as to the person's credentials, mental fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. If the registered bidder's user name is offensive to Aumann Auctions, Inc. or in their sole opinion detrimental to Bidding Activity, then Aumann Auctions, Inc. reserves the right to delete the bidder from bidding or unilaterally change the username with notification to the Bidder. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.
MAXIMUM BID: When you bid your maximum bid, the current bid price does not automatically advance to your maximum bid. Another bidder has to bid to increase the current price and the computer will automatically bid up to your maximum in the increments specified.
AUCTION END TIMES: Aumann Auctions, Inc. online only auctions are timed events and all bidding will close at specified time. However, our auctions also have what is called an 'Auto Extend' feature. Any bid placed within the final 5 minutes of an auction results in the auction automatically extending 5 additional minutes. The bidding will extend in 5 minute increments from the time the last bid is placed until there are no more bids, and the lot sits idle for 5 minutes. Therefore, the auction will not close until all bidding parties are satisfied and no one can be outbid at the last seconds without having another opportunity to bid again.
TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, Aumann Auctions, Inc. reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software, nor Aumann Auctions, Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
CONDUCT OF THE AUCTION: Conduct of the auction and increments of bidding are at the direction and discretion of Aumann Auctions, Inc. Aumann Auctions, Inc. reserves the right to reject any and all bids for any reason and also reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding. All decisions of Aumann Auctions are final.
YOUR BID ON THIS AUCTION INDICATES BOTH AN UNDERSTANDING AND AN ACCEPTANCE OF THE TERMS OF THIS CONTRACTUAL AGREEMENT BETWEEN YOURSELF AND BOTH THE SELLER AND AUMANN AUCTIONS, INC. AND THAT YOU, AS THE BIDDER, ARE PREPARED TO PURCHASE THE PROPERTY UNDER THE TERMS AND CONDITIONS OF THIS AUCTION.