AUCTION TERMS & CONDITIONS



PROCEDURES: In Person Bidding will take place October 18, 2024 Friday, at 11:00 AM. The Property will be offered using the Multi-Par method of sale, whereby the high bidder can purchase either individual tract or the property as a whole. Bidding will remain open until the close of the auction as determined by the Auctioneer. Bidding will be on a lump sum dollars per tract basis (i.e., versus bidding per acre).



The Online Bidding portion of the auction will take place Live Online October 18, 2024 Friday, at 11:00 AM. The Property will be offered in 2 individual tracts and the property as a whole. Bidding and livestream viewing will be available at www.ollisauction.com. Bidding will remain open on individual tracts and the whole property until the close of the auction as determined by the Auctioneer. Bidding will be on a lump sum dollars per tract basis (i.e., versus bidding per acre).



REGISTRATION: Online bidders are required to register at www.ollisauction.com prior to Noon CDT on Thursday, October 17, 2024, to ensure approval. Once the online registration form is filled out it will be automatically sent to Joe Ollis Real Estate & Auction, LLC for approval to allow bidding. Auction company may request a letter of recommendation from prospective bidder�s financial institution stating funds are available for the 10% deposit and that bidder has the financial capacity for final purchase.



ACCEPTANCE OF BID PRICES: The successful high bidder(s) will enter into a Real Estate Purchase Contract immediately following the close of bidding for presentation to the seller. Final bid price is subject to approval or rejection by seller.



DOWN PAYMENT: A 10% non-refundable down payment of the total contract purchase price will be due within 24 hours of the close of the auction from the winning bidder. The down payment may be paid in the form of cash, check, or wire transfer and held by Joe Ollis Real Estate & Auction, LLC. Should the winning bidder not be approved by the Seller, the down payment shall be returned to Bidder as soon as practicable. The balance of the contract price will be due at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.



CLOSING: The closing shall take place on or before December 13, 2024.



POSSESSION: Seller shall deliver possession of the Property free and clear of all liens and encumbrances to Buyer concurrently with the closing of this transaction.



TITLE: Seller will provide a proper deed conveying merchantable title to the real estate to the successful buyer free and clear of liens. Closing costs will be allocated between buyer and seller as detailed in the Purchase Contract. Buyers are encouraged to review the Purchase Contract for specific information.



BUYER�S PREMIUM: A five percent (5%) Buyers Premium will be added to the high bid to establish the contract price.



REAL ESTATE TAXES & INCOME: The Seller will provide a credit at closing to cover the prorated property taxes for 2024, from January 1st to the closing date. These prorated taxes will be due and payable in 2025. The most recent tax figures available will be used to determine the amount of the credit. The remaining 2024 taxes and beyond will be the responsibility of the Buyer(s). Seller shall retain 100 percent (100%) income from the 2024 crop year, including any bonuses, for the 2024 crop year. Seller shall be responsible for 2024 expenses.



SURVEY: At the Seller�s option, the Seller shall provide a new survey where there is no existing legal description sufficient to convey title. Any need for a new survey shall be determined solely by the Seller unless such surveys are required by State or local law. The cost of the survey shall be paid 50/50 between buyer and seller. The type of survey performed shall be at the Seller�s option and sufficient for providing the transfer of merchantable title.



MINERAL RIGHTS: The sale shall include any and all mineral rights owned by the Seller.



ACREAGES: All acreages are approximate and have been estimated based upon current legal descriptions, FSA records and aerial mapping software.



EASEMENTS & LEASES: The sale is subject to any and all easements and leases of record.



DISCLAIMER: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the agreement to purchase. The property is being sold on an �AS IS, WHERE IS� basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller(s) and Joe Ollis Real Estate & Auction, LLC. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Seller, Joe Ollis Real Estate & Auction, LLC. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the final round of bidding and increments of bidding are at the direction and discretion of the seller�s agent. The Seller, Joe Ollis Real Estate & Auction, LLC reserve the right to preclude any person from bidding if there is any question as to the person�s credentials, fitness, etc. Under no circumstances shall Bidder have any kind of claim against Joe Ollis Real Estate & Auction, LLC or anyone else if the internet service fails to work correctly before or during the auction.



AGENCY: Joe Ollis Real Estate & Auction, LLC and its representatives are exclusive agents of the Seller.



SELLER(S): L. W. Wright Trust, M. L. Wright Trust, & The Estate of Robert Wright

Land Auction - Jackson County, Illinois 162.38+/- Acres of Agricultural Land Auction Date: Friday, October 18, 2024, at 11:00 AM Auction Location: Campbell Hill Community Center, 213 Dean St, Campbell Hill, IL 62916 Property Location: Washington Street or Roseme Road, Ava, IL 62907 An excellent opportunity to acquire 162.38+/- acres of quality farmland located in Jackson County, Illinois. The property is being offered using the Multi-Parcel Bidding Method, allowing bidders to purchase either two individual tracts or the property as a whole. The land offers extensive frontage on Washington Street and Roseme Road, providing easy access for agricultural operations. The property is predominantly open and tillable, with approximately 161.21 acres of prime farmland as recorded by the Farm Service Agency (FSA). The soil types, including Stoy silt loam, Homen silt loam, and Hickory-Homen silty clay loams, are well-suited for a variety of crops, making this property an excellent choice for farming or investment. The property is currently planted in soybeans. Parcel Tax ID Number: 03-30-300-005 Acreage: Tract 1: 83 +/- Acres Tract 2: 80 +/- Acres Total: 162.38 +/- Acres Tillable Land: Approximately 161.21 acres per FSA records FSA Information: Farm Number: 1315 Total Farmland: 168.95 acres Total Cropland: 161.21 acres Base Acres: 163.90 for wheat, corn, and soybeans Current Crop: The property is currently planted in soybeans. ARC/PLC Eligible: Yes, for wheat, corn, and soybeans Sellers: L. W. Wright Trust, M. L. Wright Trust, & The Estate of Robert Wright Abbreviated Auction Terms & Conditions: Bidding Process: The property will be offered using the Multi-Par method, allowing bidders to purchase individual tracts or the property as a whole. Bidding will remain open until the auction closes as determined by the Auctioneer. Registration: Online bidders must register by Noon CDT on October 17, 2024, at www.ollisauction.com. Down Payment: A 10% non-refundable down payment is required within 24 hours of the auction's close. Closing Date: On or before December 13, 2024. Buyer�s Premium: A 5% Buyer�s Premium will be added to the high bid to establish the final contract price. Possession and Title: The seller will provide a proper deed conveying a merchantable title free and clear of liens. Buyers will receive possession upon closing. Real Estate Taxes: The seller will provide a prorated tax credit at closing for 2024. Mineral Rights: All mineral rights owned by the seller will be included in the sale. No Personal Property: The sale does not include any personal property. As-Is Sale: The property is being sold on an "AS IS, WHERE IS" basis without warranties. Income from Current Crop: The seller will retain 100% of the income from the 2024 crop year, including any bonuses. The seller is also responsible for all 2024 expenses. This auction will be conducted live at the Campbell Hill Community Center and will also be available online for remote bidding. Ensure your financing is in order prior to the auction, as bidding is not contingent upon financing. For more information, to review the Real Estate Purchase Contract, and to register for the auction, visit our website or contact our office. Why use Joe Ollis Real Estate & Auction, LLC? Our standards for conducting an auction are simply higher, and the marketplace has responded, allowing us to be the leader in getting properties sold and closed. For property owners who are serious about selling�who wish to maximize their returns while reducing the time, risk and frustration of trying to sell through a traditional approach�our customized individual owner services are a perfect fit. Joe Ollies Real Estate & Auction, LLC will customize and execute a results-oriented auction marketing campaign that maximizes exposure and creates active competition for the purchase of your property. This results not only in full and current market value, but also preserves opportunities for the greatest price, while limiting risk of lower price. Individual sellers also benefit from the convenience of controlled viewings, standardized terms and conditions of sale, and a known sale and closing date. Our experience is broad-based, allowing us to bring together the necessary resources for a successful sale of practically any type of real, as well as personal property. For more information, please go to www.ollisauction.com and allow us the privilege to add your name to our growing lists of satisfied clients. www.ollisauction.com 400 New Hope Road, Buncombe, IL 62912 Office: 618-833-2227 or 618-996-2884 Toll Free: 800-272-9791 Email: ollis@ollisauction.com Joe Ollis Auction Service, LLC IL. Lic # 444.000380 Information Herein Believed to Be Accurate but Not Warranted