SAT., FEB. 11TH 2012 @ 10:00 AM CST
AUCTION LOCATION
Rough River Dam Lodge
450 Lodge Road
Falls of Rough,KY 40119
270-257-2311
FARM #1
The Young Farm
The Young Farm
Video Farm #1 The Young Farm
LOCATED IN GRAYSON COUNTY, KY on Rough River near the Olaton and Yeaman Communities. From Short Creek at the intersection of Highways 79 and 54, take Highway 54 west approximately 7.5 miles to Highway 878. Turn left and proceed 2 miles to property on the right.
850 ACRES - 3 MILES RIVER FRONTAGE - MILL BUILDINGS
TIMBER - HUNTING CABIN
COUNTY WATER - CROPLAND
HORSESHOE POND
TIMBER - HUNTING CABIN
COUNTY WATER - CROPLAND
HORSESHOE POND
Selling will be 850 acres known locally as the Young Farm. The FSA office calls for 123 acres of cropland with the balance of the farm being wooded. There are many improvements and amenities on this property including county water being available to the majority of it.
21,600 square foot building of which 12,900 sq. ft. is enclosed shop area with offices, storage areas, 14 x 28 and 14 x 22 overhead doors. There are 8,700 sq. ft. of attached open sheds with concrete floors.
· 16 x 18 restroom building. The women’s side has 3 toilets and a shower. The men’s side has a toilet, two urinals and shower.
· 25 x 64 four bay shed with concrete floor. The three buildings above are located on Parcel 54 with 7.2 acres of land. There is a large amount of paved and concrete parking area near the buildings. These buildings were recently used as a working sawmill.
· 990 sq. ft. frame home or cabin with 2 bedrooms, bath, kitchen, office area, fireplace, wood flooring, back porch and county water. It needs updates and is situated on Parcel 47 with 2.6 acres and river frontage.
· 48 x 72 building with concrete floor. It is on Parcel 53 with 3.9 acres.
· 36 x 36 building located on Parcel 48 with 4.7 acres and river frontage.
· Parcels 20, 21, 50 and 51 contain the 123 acres of cropland (per the FSA office.)
· Parcel 21 also is the site of Horseshoe Pond which is known for great waterfowl hunting.
· 19 Parcels have Rough River frontage.
· Parcels 22 and 23 have approximately 42 acres in plantation.
· 17,800 ft. (3.3 miles) Rough River frontage.
· Mistaken Creek frontage (aka Decker Creek)
· County water
· State highway frontage
· County road frontage
· 123 acres cropland
· Horseshoe Pond
· Several small ponds
· 675 acres of woods
· 42 acre tree plantation
· 2011 DCP FSA office payment to the owner $3,171.00.
· The farm contains Timber Parcels 59, 60, 61
FARM #2
The Quiggens Farm
The Quiggens Farm
550 ACRES – TIMBER – PONDS - HUNTING CABIN – COUNTY WATER - ROAD FRONTAGE
Known locally as the former Quiggens Property. This farm contains over 550 acres of mostly wooded land with some plantation fields. It has frontage on Free Zion Rd. and Yeaman-Olaton Rd. County water is available. Other improvements include two shrimp ponds, an old farm house being used as a hunting camp, an old barn and two fishing ponds. The farm will be sold in 26 land parcels from 2 to 105 acres each. The farm contains Timber Parcels 89 and 90. The outside boundary of the farm is marked with white PVC pipe.
FARM #3
The Beeler Farm
LOCATED IN GRAYSON COUNTY, KY in the Spring Lick Yeaman community. From Caneyville, KY take Highway 62 west approximately 4 miles to Highway 736. Turn right and continue 1.5 miles to the property.
317 ACRES – TIMBER – ROCK FORMATIONS – TREE PLANTATIONS
Selling will be 317.68 acres, of which approx 272 acres is wooded. This farm has 43 acres of tree plantation. There are awesome rock formations and cliffs on this property. An old barn that could be used as a hunting camp is located on the property as well. This property is accessed by a 30 ft. deeded right of way to Hwy. 736. The farm will sell in 3 land parcels from 87 acres to 125 acres. The farm contains Timber Parcel 94. The outside boundary of the farm is marked with white PVC pipe.
FARM #4
The Godsey Farm
Note: Land Parcels 95 & 96 and Timber Parcel 97 Have Been Removed From The Auction
____________________________________________________________________
TIMBER PARCELS
Farm #1 “Young Farm”
Timber Parcel 59: Consisting of Land Parcels 35 & 51-58 (179 acres)
Total Board Feet: 437,982
Timber Parcel 60: Consisting of Land Parcels 24-50(294 acres)
Total Board Feet: 917,616
Timber Parcel 61: Consisting of Land Parcels 1-23 (362 acres)
Total Board Feet: 596,523
Farm #2 “Quiggins Farm”
Timber Parcel 89: Consisting of Land Parcels 62-73 (270 acres)
Total Board Feet: 901,428
Timber Parcel 90: Consisting of Land Parcels 74-88 (280 acres)
Total Board Feet: 912,719
Farm #3 “Beeler Farm”
Timber Parcel 94: Consisting of Land Parcels 91-93 (318 acres)
Total Board Feet: 1,208,919
Farm #4 “Godsey Farm”
Note: Land Parcels 95 & 96 and Timber Parcel 97 Have Been Removed From The Auction
Parcel 59
White Oak 162,263
Poplar 95,630
Hickory 62,632
Misc 37,736
Sugar Maple 28,186
Red, Black
Cherrybark Oak 27,896
Ash 15,685
Walnut 6,670
Cherry 1,284
**The cruise was calculated on 120 acres of woods.
Parcel 60
White Oak 481,584
Red, Black
Scarlet Oak 124,604
Hickory 98,138
Poplar 56,149
Misc 37,191
Sugar Maple 32,905
Ash 30,450
Chinkapin & Swamp
White Oak 29,685
Red Maple 16,500
Walnut 10,408
**276 acres
(cruise calculation)
Parcel 61
White Oak 216,384
Hickory 93,848
Red, Black &
Shingle Oak 91,687
Gum 52,209
Sugar Maple 49,410
Poplar 30,489
Ash 27,443
Misc 14,546
Walnut, Cherry 11,176
Post Oak 9,331
**177 acres
(cruise calculation)
Parcel 89
White Oak
&Chinkapin 471,963
Hickory 134,296
Red and
Black Oak 99,482
Sugar Maple 56,662
Misc 46,562
Ash 31,972
Walnut and
Cherry 19,685
Post Oak 17,081
Beech 16,550
Poplar 7,175
**194 acres
(cruise calculation)
Parcel 90
White Oak 402,600
Hickory 170,470
Red and
Black Oak 131,383
Ash 49,513
Poplar 48,312
ChestnutOak 43,582
Misc 30,923
Sugar Maple 23,686
Pine 7,364
Walnut 4,887
**254 acres
(cruise calculation)
Parcel 94
White Oak 416,245
Red and
Black Oak 160,741
Hickory 147,106
Misc 146,069
Sugar Maple 142,784
Poplar 108,590
Beech 42,005
Ash 31,388
Walnut 11,361
Cedar 2,630
**278 acres
(cruise calculation)
Timber Size: 18” measured at ground level. 18 month removal period. Timber Cruise was done by Michael Gregg, Consulting Forester.
TGJE II LLC, OWNER
BUYER’S PREMIUM: A 10% buyer’s premium will be added to the final bid price and included in the total purchase price.
PROCEDURE: The property will be offered in 97 individual parcels and combination of parcels. There will be open bidding on all parcels and combinations during the auction as determined by the Auctioneers. Bids on individual parcels and parcel combinations will compete.
DOWN PAYMENTS: Farm #1 – Parcels 1 through 19 - $1,500 each; 20, 21 and 22 - $5,000 each; 23, 24 and 25 - $2,500 each; 26 through 46 - $1,500 each; 47 - $2,500; 48 and 49 $1,500 each; 50 and51 - $5,000 each; 52 and 53- $2,500 each; Parcel 54 - $5,000; 55 through 58 - $2,500 each; Farm #2 – Parcels 62 through 71 - $2,000 each; 72, 73, 74, 76 - $5,000 each; 75 & 77-82 - $2,000 each; Parcels 83-88 - $1500 each; Farm #3 – Parcels 91, 92, 93 - $5,000 each; Farm #4 – Parcels 95 & 96 $2,500 each. All deposits to be made in the form of cash, cashier’s check or personal check with up to date bank letter guaranteeing funds. All bidders must register prior to the auction to receive a bidding number and must have a picture ID or driver’s license. The houses were built before 1978. Lead paint could be present. Make your inspection 10 days prior to the auction. Purchaser will be required to sign an inspection waiver prior to signing a sales purchase agreement day of auction. DOWN PAYMENTS FOR TIMBER PARCELS: Farm #1 Timber Parcel 59 - $10,000, Parcel 60 - $15,000 and Parcel 61 - $10,000; Farm #2 Timber Parcels 89 and 90 - $15,000 each, Farm #3 Timber Parcel 94 $20,000 and Farm #4 Timber Parcel 97 $10,000. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.
TIMBER TERMS: The above down payments are required the day of auction with the balance of the sale price being due by Feb.24th, 2012. Possession will be made available after all real estate parcels have been transferred to the new buyers for the particular timber parcel. Timber size to be 18 inches across the stump, measured at ground level. Removal period will be 18 months from the date of the deed of the last land parcel closed. Any trees within the “yard area” of the house on Parcels 47 and 75 shall not be cut. A timber sale contract will be available for viewing at the auction site.
DEED: Seller shall provide a Special Warranty Deed. Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title and similar related matters. Multiple parcels sold to the same purchaser will be described on one deed.
REAL ESTATE TAXES: All taxes for the 2012 calendar year and thereafter shall be the responsibility of the buyer(s).
CLOSING: Closing shall take place prior to March 29th, 2012 4:00 p.m. CST at Brite and Hopkins Attorneys at Law 83 Ballpark Rd. Hardinsburg, KY 40143. With respect to the timing of bidder(s) fulfilling its obligations under a Purchase Agreement, time is of the essence.
POSSESSION and RISK OF LOSS: Possession of the property and risk of loss thereto shall be given immediately upon Closing.
POSSESSION ON REAL ESTATE: For all parcels, date of deed transfer, subject to the timber sale contract.
ACREAGE: Some tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
SURVEY – All land parcels on Farm #1 and Farm #2 have been surveyed. $20 per acre will be collected from the buyer(s) at closing. Farm 3 and Farm 4 have boundary surveys, the parcels are estimated acreage. If more than one buyer purchases either farm, the parcels will be surveyed and the buyers will be charged $20 per acre at closing. The sale price of Farms 3 and 4 will also be prorated on a per acre basis if sold in parcels. If any vacant land parcels acreage amounts are changed for any reason prior to closing, the sale price will be adjusted on a prorated per acre basis. If any improved parcels acreage amounts are changed for any reason prior to closing, the sale price will not be adjusted.
PRIVATE ROAD MAINTAINCE – Parcels 16, 17, 18, 19, 22, 23, 24, 25, 26 and Parcels 32 through 58 and Parcels 62 through 81 with frontage on the private roads will be subject to a road maintenance agreement unless all tracts on either road are purchased in combination by one buyer. Copies of the road maintenance agreement will be available for review at the auction site.
PROPERTY INSPECTION: Each potential bidder is responsible for conducting at their own risk, their own independent inspections, investigations, inquires, and due diligence concerning the Property. Inspection dates have been scheduled and will be staffed with auction personnel. Bidder shall be liable for any property damage caused by bidder’s inspection and investigation, if any.
AGENCY: Barr Realty & Auction Co., Inc. and their representatives are the Auctioneers, Brokers and exclusive agents of the Seller regarding the sale of the property.
AIR PHOTOS: Aerial photographs are not to scale and may not show the exact boundary lines. Photos are for marketing purposes only.
AUCTION PLATS: The Auction Plats are for marketing and information purposes only. The Auction Plat is not an actual survey. The “Record Plat” is the actual survey plat and will be available for inspection the day of the auction.
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. ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is sold “AS IS, WHERE IS.” No warranty or representation, either expressed or implied, or arising by operation of law concerning the Property is made by the Seller or Auctioneers, and are hereby expressly disclaimed. In no event shall Seller or the Auctioneers be liable for any consequential damages. The information contained in this brochure is believed to be accurate but subject to verification by all parties relying on it. Seller and the Auctioneers assume no liability for its accuracy, errors or omissions. All sketches and dimensions in this brochure are approximate. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneers. Seller and the Auctioneers reserve the right to preclude any person from bidding if there is any question, in the sole judgment of Seller or the Auctioneers, as to such person’s creditworthiness, ability or willingness to close on the purchase of the property, credentials, fitness, etc. All decisions of the Auctioneers are final.
IMPORTANT NOTICE: All property sold “as is, where is” condition with no warranty or guarantee expressed or implied. Although information has been obtained from sources deemed to be reliable, neither the seller nor the auctioneer makes any warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to make an inspection prior to the auction. All announcements from the auction block take precedence over any printed material or any oral statements made. Not responsible for accidents.
NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to the scheduled auction time to inspect any changes, corrections, or additions to the Property information.
MINERAL RIGHTS: Buyer will receive all mineral rights that the seller owns, if any.
SELLER: TGJE II, LLC
PROCEDURE: The property will be offered in 97 individual parcels and combination of parcels. There will be open bidding on all parcels and combinations during the auction as determined by the Auctioneers. Bids on individual parcels and parcel combinations will compete.
DOWN PAYMENTS: Farm #1 – Parcels 1 through 19 - $1,500 each; 20, 21 and 22 - $5,000 each; 23, 24 and 25 - $2,500 each; 26 through 46 - $1,500 each; 47 - $2,500; 48 and 49 $1,500 each; 50 and51 - $5,000 each; 52 and 53- $2,500 each; Parcel 54 - $5,000; 55 through 58 - $2,500 each; Farm #2 – Parcels 62 through 71 - $2,000 each; 72, 73, 74, 76 - $5,000 each; 75 & 77-82 - $2,000 each; Parcels 83-88 - $1500 each; Farm #3 – Parcels 91, 92, 93 - $5,000 each; Farm #4 – Parcels 95 & 96 $2,500 each. All deposits to be made in the form of cash, cashier’s check or personal check with up to date bank letter guaranteeing funds. All bidders must register prior to the auction to receive a bidding number and must have a picture ID or driver’s license. The houses were built before 1978. Lead paint could be present. Make your inspection 10 days prior to the auction. Purchaser will be required to sign an inspection waiver prior to signing a sales purchase agreement day of auction. DOWN PAYMENTS FOR TIMBER PARCELS: Farm #1 Timber Parcel 59 - $10,000, Parcel 60 - $15,000 and Parcel 61 - $10,000; Farm #2 Timber Parcels 89 and 90 - $15,000 each, Farm #3 Timber Parcel 94 $20,000 and Farm #4 Timber Parcel 97 $10,000. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.
TIMBER TERMS: The above down payments are required the day of auction with the balance of the sale price being due by Feb.24th, 2012. Possession will be made available after all real estate parcels have been transferred to the new buyers for the particular timber parcel. Timber size to be 18 inches across the stump, measured at ground level. Removal period will be 18 months from the date of the deed of the last land parcel closed. Any trees within the “yard area” of the house on Parcels 47 and 75 shall not be cut. A timber sale contract will be available for viewing at the auction site.
DEED: Seller shall provide a Special Warranty Deed. Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title and similar related matters. Multiple parcels sold to the same purchaser will be described on one deed.
REAL ESTATE TAXES: All taxes for the 2012 calendar year and thereafter shall be the responsibility of the buyer(s).
CLOSING: Closing shall take place prior to March 29th, 2012 4:00 p.m. CST at Brite and Hopkins Attorneys at Law 83 Ballpark Rd. Hardinsburg, KY 40143. With respect to the timing of bidder(s) fulfilling its obligations under a Purchase Agreement, time is of the essence.
POSSESSION and RISK OF LOSS: Possession of the property and risk of loss thereto shall be given immediately upon Closing.
POSSESSION ON REAL ESTATE: For all parcels, date of deed transfer, subject to the timber sale contract.
ACREAGE: Some tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
SURVEY – All land parcels on Farm #1 and Farm #2 have been surveyed. $20 per acre will be collected from the buyer(s) at closing. Farm 3 and Farm 4 have boundary surveys, the parcels are estimated acreage. If more than one buyer purchases either farm, the parcels will be surveyed and the buyers will be charged $20 per acre at closing. The sale price of Farms 3 and 4 will also be prorated on a per acre basis if sold in parcels. If any vacant land parcels acreage amounts are changed for any reason prior to closing, the sale price will be adjusted on a prorated per acre basis. If any improved parcels acreage amounts are changed for any reason prior to closing, the sale price will not be adjusted.
PRIVATE ROAD MAINTAINCE – Parcels 16, 17, 18, 19, 22, 23, 24, 25, 26 and Parcels 32 through 58 and Parcels 62 through 81 with frontage on the private roads will be subject to a road maintenance agreement unless all tracts on either road are purchased in combination by one buyer. Copies of the road maintenance agreement will be available for review at the auction site.
PROPERTY INSPECTION: Each potential bidder is responsible for conducting at their own risk, their own independent inspections, investigations, inquires, and due diligence concerning the Property. Inspection dates have been scheduled and will be staffed with auction personnel. Bidder shall be liable for any property damage caused by bidder’s inspection and investigation, if any.
AGENCY: Barr Realty & Auction Co., Inc. and their representatives are the Auctioneers, Brokers and exclusive agents of the Seller regarding the sale of the property.
AIR PHOTOS: Aerial photographs are not to scale and may not show the exact boundary lines. Photos are for marketing purposes only.
AUCTION PLATS: The Auction Plats are for marketing and information purposes only. The Auction Plat is not an actual survey. The “Record Plat” is the actual survey plat and will be available for inspection the day of the auction.
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. ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is sold “AS IS, WHERE IS.” No warranty or representation, either expressed or implied, or arising by operation of law concerning the Property is made by the Seller or Auctioneers, and are hereby expressly disclaimed. In no event shall Seller or the Auctioneers be liable for any consequential damages. The information contained in this brochure is believed to be accurate but subject to verification by all parties relying on it. Seller and the Auctioneers assume no liability for its accuracy, errors or omissions. All sketches and dimensions in this brochure are approximate. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneers. Seller and the Auctioneers reserve the right to preclude any person from bidding if there is any question, in the sole judgment of Seller or the Auctioneers, as to such person’s creditworthiness, ability or willingness to close on the purchase of the property, credentials, fitness, etc. All decisions of the Auctioneers are final.
IMPORTANT NOTICE: All property sold “as is, where is” condition with no warranty or guarantee expressed or implied. Although information has been obtained from sources deemed to be reliable, neither the seller nor the auctioneer makes any warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to make an inspection prior to the auction. All announcements from the auction block take precedence over any printed material or any oral statements made. Not responsible for accidents.
NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to the scheduled auction time to inspect any changes, corrections, or additions to the Property information.
MINERAL RIGHTS: Buyer will receive all mineral rights that the seller owns, if any.
SELLER: TGJE II, LLC
Overview
Under Contract: Yes