Florida Land Auction-Marion & Sumter Counties Auction-Terms Conditions

Florida Land Auction, Marion & Sumter Counties Auctions

Terms and Conditions

816 N. Tift Avenue, Tifton, GA 31794

Phone: 800-711-9175 Fax: 866-629-0989 Myers@uccre.com

www.CertifiedLandAuction.com

MARION & SUMTER COUNTIES AUCTION

SATURDAY, JUNE 5^th, 2010

TERMS AND CONDITIONS

Welcome to Today's LAND AUCTION!

ORDER OF SALE:

This Florida LAND AUCTION will be offered in the following order:

2,163 +/- Acres Marion County (Fort McCoy)

1. High Bidders Choice of Tracts by the acre

2. Combination of Tracts

3. Choice of Tract and combination bidders that have tracts bought out in larger combinations will have the opportunity to defend their bids. The whole tract bidder may also defend their bid. (Complete details will be announced by the auctioneer.)

4. The Property in its entirety.

495 +/- Acres Marion County (Lake Bonable)

1. High Bidders Choice of Tracts by the acre

2. Combination of Tracts

3. Choice of Tract and combination bidders that have tracts bought out in larger combinations will have the opportunity to defend their bids. The whole tract bidder may also defend their bid. (Complete details will be announced by the auctioneer.)

4. The Property in its entirety.

1059 +/- Acres Sumter County

1. High Bidders Choice of Tracts by the acre

2. Combination of Tracts

3. Choice of Tract and combination bidders that have tracts bought out in larger combinations will have the opportunity to defend their bids. The whole tract bidder may also defend their bid. (Complete details will be announced by the auctioneer.)

4. The Property in its entirety.

The method that produces the best offer to the seller will determine how this property sells. Auctioneer reserves the right to write contracts on individual properties, separate and to stand alone as a single purchase and non-contingent with respect to closing each transaction as individual contracts. These properties are selling subject to owner confirmation.

AD VALOREM TAXES

The 2009 estimated ad valorem taxes were:

2,163 +/- acres Marion County- $5,281.63

495 +/- acres Marion County- $1,976.86

1,059 +/- acres Sumter County- $1,866.80

The 2010 Ad valorem taxes will be prorated between Seller and Purchaser as of the day of closing. Total estimated ad valorem taxes are:

POSSESSION

Possession of the real estate will be granted to the purchaser at closing, subject to the terms of any existing lease or rental agreement, subject to tenants in possession.

SURVEY

All surveys will be completed by, Williams Surveying Inc., 11620 SW 134^th Court, Dunellon FL, 34432 Phone: 352-465-0367 Fax: 352-489-0922, Email: marty@wsurveying.com a Florida registered land surveyor. The surveyor will charge $0.30 per linear foot on all exterior lines and $.15 per linear foot on all common lines between auction purchasers. The final sale price shall be determined by multiplying the contract price per acre by the number of surveyed acres rounded to the nearest one-thousandth of an acre. Division stakes are intended for approximation use only. Actual boundary lines are to be determined by field survey and may vary from field markers. It is understood that the acreage and dimensions of the tracts may vary according to actual survey. All survey expenses are to be paid by the Purchaser. This fee does not include the actual openings of the lines. The surveyor will open lines for an additional fee.  If the Property sells in its entirety it may be purchased from the existing legal description of record.

Any map or diagram now or previously provided is for reference and informational purposes only. The Auctioneer/Broker and its agents expressly disclaim any liability for alleged loss or damage which may result from reliance upon such map(s) or diagram(s). Plats are for reference only and have been provided for the convenience of the bidders. All Bidders shall not rely on estimated field measurements but shall rely on their own judgment in the individual tract purchases and all Bidders are bidding on the tracts on a conceptual plat.

CLOSING

Time being of the essence, this sale shall be closed on or before July 10, 2010. This transaction is not contingent upon financing, however if a purchaser obtains third party financing all documents must be delivered to the closing agent no later than July 4, 2010 and non-delivery will not protect the purchaser from the terms of the purchase and sale agreement. All plats must be delivered and closing may be extended to10 days from receipt of plat by United Country: Certified Real Estate, LLC Broker/Auctioneer, of the final recordable plat, as provided in the "Survey" whichever occurs later, however; in no event later than 10 days from receipt by United Country Certified Real Estate LLC Broker/Auctioneer, of the final recordable plat, as provided in the "Survey" whichever occurs later, except as provided in the curative title work section of this contract. All Sales will be closed by Mike Harrell, Abstract & Title Services, Inc., 111 E Howard St, Live Oak, FL 32064, Phone: 386-362-4419, Fax: 386-362-2717, Email: harrellm@atsnf.com. The Purchaser will be charged $350.00 per real estate transaction per property.

The closing fee includes conducting the closing, collecting and disbursing funds at closing, and preparing a closing statement. If the Purchaser(s) need additional services, ie. title opinion and/or owners title insurance, they will be provided at a reasonable fee. The Seller will pay for preparation of the Warranty Deed and one-half of the title insurance and payoff any existing liens. The seller will be responsible for the 2009 and any prior years Ad valorem taxes; the 2010 Ad Valorem taxes will be prorated between Seller and Purchaser as of the day of closing. Any additional closing fees including, but not limited to, documentary stamps, recording, financing expenses, intangible taxes, title fees, title insurance, appraisals, inspection reports, and any additional legal work required by a lender will be the Purchaser's expenses.

INDIVIDUAL PURCHASES

Individual purchases are to be considered as a single transaction not contingent upon acceptance of any other bids by the Seller. Auctioneer has the right to sell this Property in any form or fashion that is legal and ethical in order to produce the best offer to the Seller.

REPRESENTATION

Purchaser and Seller acknowledge and agree that the only Broker/Auctioneer involved in this transaction is United Country Certified Real Estate LLC, Real Estate Broker and that the Broker/Auctioneer has acted as agent for the Seller in this transaction. United Country Certified Real Estate LLC; Real Estate Broker has not acted as agent in this transaction for the Purchaser.

TERMS OF REAL ESTATE

The successful Purchaser(s) will deposit 15% of the contract price at the auction in form of cash, cashier's check or good personal funds accompanied by a bank letter of guarantee, sign a real estate sales contract and pay the balance at closing on or before July 10, 2010. A 10% Buyer's Premium will be added to the bid price to obtain the contract price.

SPECIAL CONDITIONS OF THE SALE

1. Seller presently has title to this Property. At the time of closing, Seller agrees to convey good and marketable title to said Property by Warranty Deed and other deeds as described and subject only to (1) zoning ordinances affecting said property; (2) general utility, sewer, road, and drainage easements of record; (3) subdivision easements, covenants and restrictions of record, if any; and (4) leases, other easements, other restrictions and encumbrances specified herein. This property is selling: subject to visible easements or claims of easements not shown by the public records, and shown graphically on subdivision plats, boundary lines disputes, overlaps, encroachments, and any matters not of record that would be disclosed by an accurate survey and inspection of the premises. This Property is sold subject to all outstanding easements on said property for roads, power and telephone lines and the like and likewise subject to any cemetery or cemeteries that may now exist on this property.

2. All properties may be subject to current lien holder's approval and may be presented for short sale approval if applicable. However, no guarantee will be made by seller. Purchaser will agree to all extensions required by the seller, Financial Institutions, Federal, State and Local Courts of Jurisdiction and will accept all extensions until approval can be executed. Purchaser and seller agree that the earnest money deposits shall be held in brokers escrow account and can be transferred upon request to closing agent. Any earnest money deposit shall continue to be held during the course of the contract, including any extension period or time required for acceptance in conjunction with any short sale, lien holder approval, Federal, State or Local Court actions needed to assure the seller's ability to satisfy and deliver a marketable title. In the event a final contract agreement cannot be reached between all parties, earnest money will be returned and each party will be held harmless.
   

3. Auctioneer and Sellers do not warrant or covenant with Buyer with respect to the existence or nonexistence of any pollutants, contaminants or hazardous waste prohibited by federal, state or local law or claims based thereon arising out of the actual or threatened discharge, release, disposal, seepage, migration or escape of such substances at, from or into the demised premises. Buyer is to rely upon it's own environmental audit or examination of the premises.

4. A detailed title search for this Property has not been made. Consequently, Auctioneer and Seller are not positive as to the status of the oil, gas and mineral rights. The Seller agrees to convey all its interest in any oil, gas, or mineral rights to the Purchaser at closing. Any oil, gas or mineral rights previously sold, conveyed or rescinded will not be conveyed to the Purchaser.

5. Purchaser orders a survey to be completed a new purchaser agrees to employ surveyor listed above. All closings shall occur no later than 10 days after receipt of the final approved plat, except as noted in the curative title work. Any change in acreage shall be adjusted for final contract price and will be reflected on the closing statement as listed above on applicable properties. The Parcel Identification Number assigned to each parcel will refer to the legal description of record until a complete survey is certified and updated legal description is sent to closing agent.

6. If the Purchaser declines a survey, it will purchase from the deed of record and will accept acreage as presented with all ingress and egress stipulations recorded or unrecorded, furthermore all boundary lines are accepted. Purchaser agrees that this transaction shall close no later than July 10, 2010. Purchaser agrees and accepts the acreage and purchase shall be considered a lump sum contract price. Any survey ordered after this agreement shall not delay closing. The current Parcel Identification Number on file with each parcel will refer to the legal description on file less and except previous conveyed property or parcels.

7. It is the intent of the ____Seller and\or____ purchaser to utilize this transaction as a part of a tax deferred exchange as provided in Internal Revenue Code Section 1031, as amended and the treasury regulations promulgated there under. Each buyer or seller that this matter pertains hereby acknowledges it is the intent to affect an IRC Section 1031deferred exchange which will not delay closing or cause additional expense to any party which did not request 1031 exchange treatment. If both parties intend to exchange, then each party will bear the expense accordingly. The buyer and\or seller's rights in this exchange may be assigned to a Qualified Intermediary, for the purpose of completing such exchange. Buyer and/or Seller agree to cooperate along with any qualified Intermediary in any manner necessary to complete the exchange. However any default in conjunction with any IRS tax deferred exchange Section 1031on behalf of the purchaser shall not prevent this transaction from closing under the terms of this purchase and sales agreement. No action shall prevent the purchaser from any obligation under the terms and conditions of this contract with respect to any IRS tax deferred Section 1031 exchange.

8. All plats and drawings are subject to final approval from the County Planning and Zoning Department.

9. Any Construction or development is subject to approval by the County Planning and Zoning Department.

10. Any other applicable easements or restrictions either recorded or visible.

11. The Terms of any existing lease or rental agreement, subject to tenants in possession.

12. Under Title X, the Purchaser of a single-family residence built before 1978 has a maximum of ten days to inspect the property for the presence of lead-based paint. The period for the inspection began May 25, 2010 and ended June 4, 2010. All Bidders must sign a waiver of the 10 day post sale inspection period.

13. Subject to the following:

Marion 2163

Reservations in favor of the State of Florida, as set forth in the deed from the Trustees of the Internal Improvement Fund of the state of Florida recorded in Deed Book 252, Page 71, and in Deed Book 256, Page 15, Public Records of Marion County, Florida.

Easement Agreement recorded in OR Book 3837, Page 1762-1770, said Public Records.

Oil, gas, mineral or other reservations as set forth in deed by Lawrence V. Lowe and Lena Ward Lowe recorded in Deed Book 331, Page 70, said Public Records. No determination has been made as to the current record owner for the interest excepted herein.

Oil, gas, mineral or other reservation as set forth in deeds by K. H. MacKay and Julia F. MacKay recorded in Deed Book 259, Page 9, Deed Book 259, Page 17, Deed Book 280, Page 177, Deed Book 280, Page 183 and Deed Book 302, Page 57, said Public Records. Not determination has been made as to the current record owner or the interest excepted herein.

The rights of third parties or the public, if any, relating to the old woods road (Hogan Road) that traverses Section 18 and a portion of Section 20.

Any fence encroachment, whether on the property insured herein or the land of others.

Subject to Deed of Conservation Easement to St. Johns River Water Management District dated May 5, 2009, filed May 22, 2009, in OR Book 5201, Pages 1778-1787, said Public Records.

Marion 495

Subject to easements, restrictions, covenants and other matters common to the plat recorded in Plat Book G, Page 7, 7A-7C, of the Public Records of Marion County, Florida, including, but not limited to, any building set back lines and/or easements lying within the property described herein.

Mineral reservations as recorded in Deed Book 283, Page 7, Deed in trust in OR Book 992, Page 1367, Deed in Trust in OR Book 992, Page 1369, Deed in Trust OR Book 992, Page 1372, Deed in Trust in OR Book 992, Page 1376, Deed in Trust in OR Book 992, Page 1379, and Warranty Deed in OR Book 1036, Page 150, which right of entry is released, said Public Records.

Easement as recorded in OR Book 344, Page 330, OR Book 91, Page 221 and amended in OR Book 178, Page 445, OR Book 1034, Page 1018, and in OR Book 357, Page 498, said Public Records.

SUBJECT TO A HUNTING LEASE Between Lake Bonable Investments, LLC Penfield Holdings, LLC herein collectively as co-tenatnts in common whose address is 104 W Superior St, Duluth, MN 55802, and phone number is 218-722-3112, hereinafter referred to as Landlord , and Jeff Starnes, aka Tide Water Hunt club, whose address is PO Box 186, Bronson, FL 32612 and phone number is 352-317-6910, hereinafter referred to as Tenant.

SUBJECT TO A LEASE AGREEMENT TO FARM PEANUTS, between Lake Bonable Investments, LLC, Penfield Holdings, LLC herein collectively as co-tenants, both Florida limited liability companies who are the ("Leessor") with a mailing address of: 104 W Superior St., Duluth, MN 55802, and Jeffery Starnes aka Starnes Farming and Trucking, Inc., ("Lessee") with a mailing address of ; PO Box 186 Bronson, FL  32621

SUMTER 1059

Reservations contained in Deeds from the Trustees of the Internal Improvement Fund of the State of Florida, filed in Deed Book 114, Page 221-A, Deed Book 114, Page 361, Deed Book 114, Page 538, Deed Book 118, Page 54-A, and Partial Transfer of Road Reservations filed in Book 903, Page 769, Public Records of Sumter County, Florida.

Mineral Right and Royalty transfer filed in Deed Book 121, Page 460, Bok 289, Page 213, Book 294, Page 373, Book 294, Page 789, Book 297, Page 688, Book 299, Page 203, Book 312, Page 412, Book 312, Page 416, Book 400, Page 301, Book 432, Page 193, Book 488, Page 711, and Tax Deed filed in Book 343, Page 163, said Public Records.

Reservations as contained in Deed from Charles P. Davis and his wife, Monica B. Davis, filed May 31, 1948 in Deed Book 129, Page 180, said Public Records.

Easement granted to Sumter Electric Cooperative, Inc. as recorded in Book 52, Page 286, Book 60, Page 120, Book 63, Page 348, Book 94, Page 497, Book 104, Page 61, Book 348, Page 278 and thereafter assigned to Florida Power Corporation in Book 718, Page 249, said Public Records.

Easement granted to Florida Power Corporation, as recorded in Book 69, Page 346, Public Records, Sumter County, Florida.

Easement granted to Seminole Electric Cooperative, Inc. as recorded in Book 235, Page 538, thereafter assigned to Florida Power Corporation in Book 699, Page 713, said Public Records.

Terms and Conditions of the Maintenance Agreement between Martin Andersen and Gracie B Andersen, his wife, and Seminole Electric Cooperative, Inc., filed in Book 239, Page 23, said Public Records.

Terms and Conditions of the Agreement between the Martin Andersen-Gracia Andersen Foundation, Inc. and the State of Florida Department of Transportation filed in Book 1053, Page 701, said Public Records.

Unrecorded Agriculture Lease between The Martin Andersen-Gracia Andersen Foundation, Inc. and Brown & Brown Farms dated March 27, 2001.

SUBJECT TO A LEASE AGREEMENT ("LEASE") BETWEEN, Otesgo Holdings, LLC, Penfield Holding, LLC whose mailing address is 104 West Superior St. Duluth, MN 55802 (together are "LESSOR") and E Sciler and Son whose mailing address is 524 SE 22nd St., Ocala, FL  34471 ("LESSEE").

1. Purchaser agrees that they have sought all necessary professional and and/or legal guidance prior to auction and has all terms and conditions of this agreement.

DISCLAIMER

United Country Certified Real Estate LLC and the Seller have gathered this information and believe it to be correct to the best of our knowledge. All documents and information are being furnished to the bidder for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the bidder's risk. These documents are being provided without any warranty or representation, express or implied, as to its content, its suitability for any purpose or its accuracy, truthfulness or completeness. Each Purchaser must conduct and rely solely upon its own investigation and inspection. Further, all parties acknowledge and agree that the Property is being sold "AS IS" with any and all faults. The Seller shall have no obligation for repairs or replacements noted in any inspection(s) made by or for the Purchaser. Such repairs or replacements shall be the sole responsibility of Purchaser. All contracts will be presented at the close of the Auction with specific Seller instructions. Seller may remove property from the Auction during or at any time prior to the end of Auction and at the Seller's discretion, Seller may accept the offer with the best terms. Auctioneer/Broker and/or Seller may bid or rebid on any property in tracts, combination of tracts or as a whole, defense of a bid or any bid increment vital to producing the highest and best price under the terms and condition of the Seller. Furthermore, it will be the Seller's discretion to accept any additional increase on any posted bid by any individual tract purchase, combination, defense of bids or any upset bid during or after any bid has been posted and prior to final confirmation and or acceptance in the form of a purchase and sale agreement in writing. Any Internet bid may be transferred to any live Auction event and will be subject to terms and conditions of the live Auction. Furthermore, all bids shall be posted and presented accordingly as announced by the Auctioneer. The end of internet bidding shall not constitute the close of the Auction Event. Internet bids will be only for the convenience of the bidder with proper qualification prior to the start of any Auction. Announcements made from the Auction podium take precedence over written matter and prior oral statements.