Online Auction Terms

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

Taxes: Real estate taxes for 2020 payable in 2021 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 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 December 21, 2020, or such other date agreed to by the parties.

Earnest Payment: A 10% earnest money payment is required with the signed purchase agreement. The payment may be in the form of cashier’s check, personal check, company check, or wired funds. All funds will be deposited and held by The Title company.

Contract and Title: Upon acceptance of bid, the high bidder(s) will enter into a real estate contract and deposit with The Title Company the required earnest payment. The cost of any escrow closing services will be paid equally by the Buyer(s) and Seller. Sale is not contingent upon
Buyer(s) financing.

Closing: The sale closing is on December 21, 2020, or such other date agreed to by the parties. The balance of the purchase price will be payable at closing in guaranteed funds or by wire transfer at the discretion of The Title Company.

Sale Method: The real estate will be offered as one individual tract. All bids are open for advancement starting Monday, November 16, 2020 at 9:00 AM until Wednesday, November 18, 2020 at 1:00 PM, subject to the automatic bid extend feature outlined in these terms and conditions.
Auctions are timed events and subject to extended bidding due to bidding activity. Any bid placed within five minutes of the auction ending will automatically extend the auction for five minutes from the time the bid is placed. The auto-extend feature remains active until no further bids are placed within the five minutes time frame. All decisions of Farmers National Company are final.

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

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”. 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.

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

Seller(s): Melander Ag Holdings LLLP

Online Bidding Procedure:
This online auction begins on Monday, November 16, 2020 at 9:00 AM. Bidding closes Wednesday, November 18, 2020 at 1:00 PM.

Bidders can also bid in person at the Farmers National Company office located at 4141 31st Avenue S, Suite 101, Fargo, ND 58104. Farmers National Company personnel will walk through the on-line bidding process through the main office computer.

All bids on the tracts will be visible online, 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 online 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. E-mail notification will be sent to registered bidders with updated information as deemed necessary by Farmers National Company.