Minerals:  All mineral interest owned by the Seller, if any, will be conveyed to the Buyer(s).

Taxes:  Real estate taxes for 2021 payable in 2022 will be paid by the Seller. All future taxes will be the responsibility of the Buyer(s).

Conditions:  This sale is subject to all easements, covenants, restrictions of record, and leases.  Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property including the farmstead is sold on an “AS IS-WHERE IS” basis with no warranties or guarantees, either expressed or implied, by the Seller or Farmers National Company.

Possession:  Possession will be granted at closing March 31, 2022, or such other date agreed to by the parties. 

Earnest Payment:  A 10% earnest money payment is required on the day of the auction. The payment will be in the form of a wire transfer to the title company. All funds will be deposited and held by Allied Capital Title in Covington, Indiana.

Contract and Title:  Immediately upon conclusion of the auction, the high bidder(s) will enter into a real estate contract and deposit with Allied Capital Title the required earnest payment.  The Seller will provide an owner’s policy of title insurance in the amount of the contract price. The cost of any escrow closing services will be equally paid by the Seller and the Buyer. Sale is not contingent upon Buyer(s) financing.

Closing:  The sale closing will be March 31, 2022, or such other date agreed to by the parties.  The balance of the purchase price will be payable at closing in cash, guaranteed funds, or by wire transfer at the discretion of Allied Capital Title.

Survey:  At the Seller’s option, the Seller shall provide a property survey sufficient to provide good title where there is not an existing legal or where new boundaries are created. The Seller will pay the survey cost. Final contract prices will be adjusted to reflect any differences between the advertised and actual surveyed acres.

Sale Method:  The real estate will be offered in 12 individual tracts by Buyer's Choice. This method of sale allows the highest bidder to choose any or all tracts or any combination of tracts. After the highest bidder has made their selection, a new round of bidding will begin with the highest bidder of that round making their selection. This process goes on until all tracts are sold.  Bidding increments are solely at the discretion of the Auctioneer. No absentee or telephone bids will be accepted without prior approval of Farmers National Company and Seller. All decisions of the Auctioneer are final.

Approval of Bids:  Final sale is subject to the Seller’s approval or rejection.

Agency:  Farmers National Company and its representatives are acting as Agents of the Seller.

Announcements:  Information provided herein was obtained from sources deemed reliable, but neither the Auction Company nor the Seller makes any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, its condition, and to rely on their own conclusions. All sketches, dimensions, and acreage figures are approximate or “more or less.”  Any announcements made auction day by the Auction Company will take precedence over any previous printed materials or oral statements. The Auction Company and Seller reserve the right to preclude any person from bidding if there is any question as to the person’s credentials or fitness to bid.

Online Simultaneous Bidding Procedure:
All bids on the tract will be visible on-line, but the identity of bidders is confidential.  See auction terms and conditions for minimum bid requirements and details.

Server and Software Technical Issues:  In the event there are technical difficulties related to the server, software, or any other on-line auction related technologies, Farmers National Company reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Farmers National Company shall be held responsible for a missed bid or the failure of the software to function properly for any reason.

Important Statement:  Farmers National Company and its agents take the responsibility to connect buyers and sellers very seriously.  We also understand the prime importance of personal and public safety during the Covid-19 situation. Therefore, please be aware that allowable auction crowd size and procedures may change without notice based on directives by local, state and federal agencies. Please call the agent or check our website for any changes.

Seller:  Thomas Cossey Trust