LIVE AUCTION

380 +/- Acres of farm Land

SALE LOCATION:Marcellus VFW Building • 53550 M-40, Marcellus, Michigan
SALE DATE & TIME: Tuesday, March 22, 2016 • 10:30 AM

Property Location: Marcellus, Michigan.
Three miles east of town on Sheldon Creek
Road.
Legal Description: Marcellus Township,
(14-5S-13W; 13-5S-13W; 23-5S-13W; ), Cass County, MI. 

HIGHLIGHT FEATURES:
• Excellent layout of cropland acres
• Highly productive soils
• Majority acres are contingent to one another, two farms a
quarter mile distance
• Large, open parcel(s) for larger farm equipment
• Seed corn, potato, general field and silage crop acres will
be known throughout the area

All seven tracts are found via these descriptions.
Property Description: Large and open crop land, mostly flat topography, Tract 6 more rolling, all very productive soils.

Improvements: Home and outbuildings,  Tract1, 3 and 7.

Farm Data:
• Tract 1
Cropland  103.0 acres
Buildings      2.0 acres
Timber      8.0 acres
Total    113.0 acres

• Tract 2
Cropland    29.0 acres
Total      29.0 acres

• Tract 3
Cropland    17.5 acres
Buildings      1.5 acres
Total      19.0 acres

• Tract 4
Cropland    38.0 acres
Timber      2.0 acres
Total      40.0 acres

• Tract 5
Cropland    48.0 acres
Timber      2.0 acres
Total      50.0 acres

• Tract 6
Cropland    49.0 acres
Timber      4.5 acres
Total      53.5 acres

• Tract 7
Cropland    74.0 acres
Buildings      1.0 acres
Total      75.0 acres

FSA Information:
• Tracts 1-6 Bainbridge Trust base acres will be
redefined by FSA Office.
• Tract 7   Base   Yield
Corn    49.6 acres  103 bushels
Taxes:
• Tracts 1-6 (approximate): $12,272 or $40.24
per acre. These taxes will change upon new
surveys and reconfiguration of the farms as
defined via the tracts and maps.
• Tract 7: $3,100 or $41.34 per acre

Soil Information
Tract #1

SYMBOL          NAME                                                     LCC      LCC      ACRES
9A        Kalamazoo loam, 0 to 2 percent slopes                IIs         IIs         45.9
9B        Kalamazoo loam, 2 to 6 percent slopes                IIe         IIe         23.6
4C        Oshtemo sandy loam, 6 to 12 percent slopes       IIIe        IIIe        19.9
9C        Kalamazoo loam, 6 to 12 percent slopes              IIe         IIe         12.8
4D        Oshtemo sandy loam, 12 to 18 percent slopes     Ive         ---         6.0
19         Houghton muck, 0 to 1 percent slopes                 Vw          ---        4.0
41E      Spinks-Oshtemo complex, 18 to 35 percent slopes VIIe    ---         0.4
TOTAL 112.6

Tract #2

SYMBOL          NAME                                                   LCC      LCC      ACRES
9A        Kalamazoo loam, 0 to 2 percent slopes              IIs         IIs         30.0
TOTAL 30.0

Tract #3

SYMBOL          NAME                                                   LCC      LCC      ACRES
9A        Kalamazoo loam, 0 to 2 percent slopes              IIs         IIs         14.8
9B        Kalamazoo loam, 2 to 6 percent slopes              IIe         IIe         5.1
TOTAL 19.9

Tract #4

SYMBOL          NAME                                                   LCC     LCC      ACRES
9B        Kalamazoo loam, 2 to 6 percent slopes              IIe         IIe         33.7
9C        Kalamazoo loam, 6 to 12 percent slopes            IIe         IIe         6.5
9A        Kalamazoo loam, 0 to 2 percent slopes              IIs          IIs         0.8
4C        Oshtemo sandy loam, 6 to 12 percent slopes     IIIe        IIIe        0.2
TOTAL 41.1

Tract #5

SYMBOL          NAME                                                       LCC      LCC      ACRES
9B        Kalamazoo loam, 2 to 6 percent slopes                 Iie        IIe        30.8
9C        Kalamazoo loam, 6 to 12 percent slopes               Iie         IIe 1      9.6
4D        Oshtemo sandy loam, 12 to 18 percent slopes      IVe       ---         0.9
4C        Oshtemo sandy loam, 6 to 12 percent slopes        IIIe       IIIe        0.2
TOTAL 51.4

Tract #6

SYMBOL                NAME                                                  LCC         LCC      ACRES
4C          Oshtemo sandy loam, 6 to 12 percent slopes      IIIe           IIIe        23.7
9B           Kalamazoo loam, 2 to 6 percent slopes               IIe            IIe        20.0
4D           Oshtemo sandy loam, 12 to 18 percent slopes    Ive            ---        9.1
9C            Kalamazoo loam, 6 to 12 percent slopes             Iie            Iie         1.3
TOTAL 54.1

Tract #7

SYMBOL                   NAME                                                 LCC       LCC        ACRES
    9A          Kalamazoo loam, 0 to 2 percent slopes             Iis           Iis            66.5
    9B          Kalamazoo loam, 2 to 6 percent slopes             IIe           IIe           10.4
TOTAL 76.9

AUCTION TERMS

Minerals: All mineral interests owned by the Seller, if any will be conveyed to the    Buyer(s).
Taxes: Real estate taxes for 2015 payable in 2016 will be paid by the Seller. All future taxes will be the responsibility of the Buyer(s). Seller will pay those real estate tax installments due and payable through April 29, 2016.
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 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 on or before April 29, 2016.
Earnest Payment: A 10% earnest money payment is required on the day of the auction. The payment may be in the form of cash, cashier’s check, personal check, or company check. All funds will be deposited and held by Community First Title Agency in their trust account.
Contract and Title: Immediately upon conclusion of the auction, the high bidder(s) will enter into a real estate contract and deposit with Cass County 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 title insurance will be paid by the Seller. The cost of any escrow closing services will be paid equally by both the Seller and the Buyer(s). Sale is not contingent upon Buyer(s) financing. Closing: The sale closing is on or before April 29, 2016. The balance of the purchase price will be payable at closing in cash, guaranteed funds, bank draft, or by wire transfer. Seller(s) advise all closing costs and transfer taxes to be split 50/50 with Buyer(s) of any and/or all properties.
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 difference between the advertised and actual surveyed acres.
Sale Method: The property will be offered as seven individual tracts, any combination, or as a total unit. All bids are open for advancement until the Auctioneer announces that the real estate is sold or that the bidding is closed. The real estate will sell in the manner resulting in the highest total price. Bidding increments are solely at the discretion of the Auctioneer. No absentee or telephone bids will be accepted without prior approval of the Farmers National Company and the Seller. All decisions of the Auctioneer
are final.
Approval of Bids: Final sale is subject to the Seller’s approval or rejection on any/all tracts.
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 Farmers National 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 Farmers National Company will take precedence over any previous printed materials or oral statements. Farmers National 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.

Seller(s):

Bainbridge Trust Farm (L-1600293)

and

Reigle Family Trust (L-1600322)
 

For additional information, please contact:

Steve Herr, Farm Manager, Agent
Lapeer, Michigan
Office: (810) 664-4182
Cell: (810) 569-5638
SHerr@FarmersNational.com
www.FarmersNational.com/SteveHerr

Or

Joe Sherwood, Auctioneer

Sherwood Auction Service LLC.

Cell: (989)640-9401

sherwoodauctioninfo@yahoo.com

Sellers Note: Seller advises deed restriction for the sale of these acres. No animal confinement facility shall be operated on the premises. In the event an animal confinement facility is operated on the premises in violation of this restriction, the land shall revert to the Grantor or his/her heirs or assigns.
Or, at Grantor’s, his/hers heirs or assigns option, they may petition the Court for a permanent injunction restraining and prohibiting the property owner, or its assigns, form operating an animal confinement facility on the premises. In such event the property owner shall be liable for all court expense and costs, reasonable attorney fees and any expenses incurred in enforcing this restriction.

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