DAUGHERTY TERMS AND CONDITIONS
Bidding to open: January 9, 2020 and shall not end prior to January 14, 2020 Register to bid at www.rockingxland.hibid.com Auctioneer recommends registering prior to open of bidding.
Terms of Sale: 10% down at conclusion of auction, with the balance to be paid on or before February 16, 2021. Cashier's check or wire checks are acceptable down payment with the final payment to be certified funds. All funds will be held by the auction company trust account. Bidding shall not be contingent upon financing, should financing be required it shall be arranged prior to auction
No Buyer (s) Premium
Manner of Sale: Tract will be auctioned individually only. Auction procedure and increments of bidding to be determined by auction company. Bidding is not contingent upon financing; all financing shall be arranged prior to auction. Soft close at conclusion of auction.
Mineral Rights: No minerals shall pass with surface rights
Closing: Buyer may close as soon as closing documents are prepared No later than February 16, 2021.
Closing Agent: Kit Carson County Abstract Co. shall be the closing agent, location of closing to be 1451 Senter Ave., Burlington. Closing fee shall be split 50/50.
Possession: Property currently Subject to 1/3 - 2/3 Crop share lease through 2021 harvest with landlords share of 2021 winter wheat (240 acres) going to the buyer. No crop insurance available. Lease available upon request.
Real Estate Taxes: Taxes for 2021 will be prorated to date of close
Acceptance of Bids: Each successful bidder will be required to enter into a Colorado Real Estate Sales Contract immediately following the auction. Contract will be available for review prior to sale.
Evidence of Title: Seller will provide title insurance to the buyer in the amount of the purchase price. Premium to be paid by seller. Title evidence will be provided prior to sale. Title shall transfer with a special warranty deed.
Acreages: Acreage figures are considered to be approximate and are from reliable sources based on County Assessed Acres. All FSA information is subject to change. Assessed acres may not be the same as deeded acres. No warranty is expressed or implied as to exact acreages of property. All bids are for the tracts without regard to exact acreage. There will be no adjustment in purchase price if acreage is different than what is stated in this brochure and / or stated at the auction.
Inspections: All buyers (bidders) shall be responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither seller or Rocking X Land Co. Ltd., agents of, or representatives, are making any warranties about the property either expressed or implied. Statements, while not guaranteed, are from reliable sources.
Easements: This sale is subject to all rights of way and easements, whether recorded or not, and to oil and gas leases of record if any.
Estimated 2019 Taxes: $912.12
Agency: Rocking X Land Co. Ltd., its agents and representatives are the exclusive agents of the seller

Auction Terms & Conditions

By participating in this auction, bidders hereby agree that their bid shall NOT BE SUBJECT to the bidders ability to obtain financing. By placing a bid in this auction, bidders are making a "cash offer" to purchase the property. Financing is NOT a contingency in the purchase agreement.

Winning bidder hereby agrees to enter into a Contract to Purchase the property within 24 hours of being declared the Successful Bidder by the Auctioneer. Upon the close of the auction, the winning bidder will be forwarded via email or fax a Contract to Purchase the property. A signed copy of the contract must be received by Rocking X Land Co. within 24 hours of the end of the auction.

Under no circumstances shall Bidder have any kind of claim against Rocking X Land Co., or anyone else if the Internet service fails to work correctly before or during the auction. Online bidding is subject to technology faults and issues, which are outside the control of the auction company.

BUYER'S PREMIUM: NONE.

ESCROW: An escrow deposit of Ten Percent (10%) of the total contract purchase price must be received by Rocking X Land Company within 36 business hours of the close of the auction. Acceptable forms of payment include cashier's check, or wire transfer. The balance will be due in full at closing.

CLOSING: Buyer must close sale of real property on or before Monday January 18, 2021 at Kit Carson County Abstract Co., 1451 Senter Ave. Burlington, CO. TIME IS OF THE ESSENCE. The entire purchase price must be paid by Cashier/Certified check or wired funds at closing. No purchase is contingent on financing. Buyer is entitled to a deed for property upon full payment. Buyers should have all tests and inspections completed prior to the date of the auction. Only the Purchase Contract shall set forth Seller's obligations to the successful Bidder. Out of area buyers will be afforded the opportunity to close via email, mail and wire transfer of certified funds. Possession of the property will be given at closing.

TAXES: Seller shall pay 2019 taxes and all prior years. 2021 taxes will be pro-rated to the date of closing.

TITLE/CLOSING COSTS: Seller and Buyer shall share equally in the cost of escrow closing. Preliminary Title insurance has been prepared by Kit Carson County Abstract Co. and will be updated with Buyer information prior to closing, Title insurance shall be Sellers Expense. Buyer is responsible for cost of lender's policy.

TITLE EVIDENCE/DEED: Seller will deliver to Buyer an insurable deed for the Property at time of closing, conveying clear and marketable title of surface rights to said Property, free of all encumbrances, liens and judgment, except for those lawful conveyances and restrictions that exist on record before the date of the auction, as noted in the title insurance commitment. Title shall transfer with a Special Warranty Deed.

PROPERTY SOLD "AS IS, WHERE IS, WITH ALL FAULTS" WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND: The real property shall be sold subject to conditions, restriction, right-of-way easements, and reservations; if any, of record, filed and unfiled mechanic's and material men's liens; if any, and all other matters of record taking priority, subject to the rights; if any, of tenants-in-possession, and further subject to all conditions announced at the sale; and confirmation of the seller.

RESTRICTIONS: Subject only to (1) all City, County, and State laws, ordinances and regulations and (2) any easements, encumbrances, and restrictions applicable to the Property. Seller is placing no restrictions on the property.

UTILITIES: Rocking X Land Co., nor the seller guarantees the availability of utilities, public or private. This consists of, but is not limited to: wells, septic tanks, access to public utilities or any hookup fees therewith. Confirmation of utility availability is the bidder's sole responsibility.

CONDITION OF SALE: The Auctioneer reserves the right to cancel the auction up to the time prior to the commencement of bidding. If a subsequent survey by the Buyer shows a greater or lesser number of acres or square footage this will not affect the purchase or purchase price.

AGENCY: The Broker/Auctioneer is acting as agent for the Seller only. During bidding, the Auctioneer has the right to reject any raise that in his opinion is not commensurate with the property value. In the event of any dispute after the sale, Rocking X Land Co.'s record of final sale shall be conclusive. All information and materials provided by Auctioneer is subject to inspection by all appropriate parties and the Auctioneer assumes no liability for its accuracy, errors, or omissions nor its agents, the Seller or its agents. Prospective bidders should independently verify any information being materially relied upon in making a purchasing decision.

LIQUIDATED DAMAGES: Buyer will forfeit all of their deposit if they cannot close within the stated time herein - and no written extension has been granted by the Seller. If such action occurs, Rocking X Land Co., hereby has the right to disperse the deposit as stated in the listing agreement and the Buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost, and additional cost of auction as not defined in this agreement. These liquidated damages do not restrict the seller from suing the Buyer for performance damages and/or any additional damages the seller suffers by the default of the Buyer.

ARBITRATION: For disputes that are not resolved by the parties within 10 days after either party gives notice to the other of its desire to arbitrate the dispute, the dispute shall be settled by binding arbitration by the American Arbitration Association in accord with its then-prevailing rules. Judgment upon the arbitration award may be entered in any court having jurisdiction. The arbitrator shall have no power to change the provisions of this Agreement. The arbitrator shall consist of one arbitrator, who must be a real estate attorney actively engaged in the practice of law for at least the last five years.

BUYER'S NOTE: Individual purchases are to be considered as singular transactions not contingent on the sale of other properties or tracts. Rocking X Land Co., reserve the right to amend any terms and conditions prior to the auction. This is a soft close auction with extended time for last minute bids.

BIDDER'S DUTY TO INSPECT: All information published, announced, or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller, the auctioneers, or any other person or entity. Personal onsite inspection of all property by potential bidders is strongly recommended. All sales are subject to the conditions and terms contained herein. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, rights-of way, or any other information that can be obtained as public record in the county courthouse or any municipal office concerning subject properties. Any and all announcements made from the auction stand take precedence over all other verbal, printed, announced, and/or distributed information. Please note that you are bidding to purchase the Property "As Is, Where Is" with no guarantee or warranty.

*Lease available upon request.

240 acres +/- of Prime Kit Carson County farm land Primarily Class II soils, described as SW, S2SE Section 9, Township 9 South, Range 46 West 6th P.M. will be offered through online auction. This farm located just SE of Stratton, CO is located Just 2 miles south of highway 24 on road 34 at the intersection of 34 and T. This area always has a high interest of tenant farmers for either cropshare or cash lease. With record low interest rates this is a very good time to look at investing in Colorado Farm Land. Property currently Subject to 1/3 - 2/3 Cropshare lease through 2021 harvest with landlords share of 2021 winter wheat (240 acres) going to the buyer. *No crop insurance available. Lease available upon request.