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

Taxes: Real estate taxes for will be prorated to date of closing. 

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 on  April 29, 2021, or such other date agreed to by the parties. Buyer will be granted immediate possession to perform necessary operations in the preparation for 2021. In the even the transaction is not closed at no fault of the Seller, the Buyer(s) will not be reimbursed for the operations or inputs.

Earnest Payment: A 10% earnest money payment is required on the day of the bidding. The payment may be in the form of cash, cashier’s check, personal check, company check or wired funds. All funds will be deposited and held by Security 1st Title . 

Contract and Title: Immediately upon conclusion of the auction, the high bidder(s) will enter into a real estate contract and deposit with Security 1st 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 and any escrow closing services will be paid equally by the Seller. Sale is not contingent upon Buyer(s) financing.

Closing: The sale closing will be April 29, 2021, 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 Security 1st Title. 

Sale Method: The real estate will be offered 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 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.

Seller(s): Lyon Morehead Trust and John Morehead Trust

Auctioneer: Van Schmidt

Online Simultaneous Bidding Procedure: The online bidding begins on Friday, March 26, 2021, at 10:00 AM. Bidding will be simultaneous with the live auction on Tuesday, March 30, 2021, with bidding concluding at the end of the live auction. 

To register and bid on this auction go to:

www.fncbid.com

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. This auction will not be broadcasted over the internet. 

Server and Software Technical Issues: In the even 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 property for any reason. E-mail notification will be sent to registered bidders with updated information as deemed necessary by Farmers National Company.