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Real Estate Auction
Thursday, October 30, 2008
1300 Primm Road, Lincoln,
105 Acres +/- located in Section 20 Chester Township
(T.19N., R. 2 W), Logan County,
TERMS:Buyer to enter
into a written agreement on the day of the Auction requiring 10% of the
purchase price as down payment with the balance due at closing. The
individual ownership interests of Donald and Ann Gehlbach are held in
two separate trusts which will require two closings.
The closing for the Donald D. Gehlbach Trust will be on
December 19, 2008 and the Ann L. Gehlbach Trust will be on
January 9, 2009.Possession will be at
closing subject to the rights of the Gene Hassebrock, under a Crop Share
which expires the last day of February, 2009. The Tennant has been
terminated for the 2009 Crop year.The Seller
reserves the right to accept or reject all bids. The final sale price
will be determined by multiplying the final bid by 105 acres. A title
commitment policy will be issued for the exact amount of the sale price.
The Seller will pay the 2008 Real Estate Taxes due in 2009 by allowing
the Buyer a credit at closing. Copies of the Title Commitment and the
Sales Contract will be available for inspection at the attorney’s
office. All announcements made at the auction and
the terms of the sale contract supersede any other advertising or
promotion, whether oral or written.