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LAND AUCTION, 80+/- Acres offered in 5 Tracts AUCTION CANCELLED, PROPERTY SOLD PRIOR TO AUCTION
Wed, Aug 13, 10:00 AM
Broken Arrow, Oklahoma

Owner: Mockley Trust



• AUCTION CANCELLED
• PROPERTY SOLD PRIOR TO AUCTION
• LAND AUCTION • 80+/- Acres offered in 5 Tracts • Online Bidding Available


OPEN HOUSE/INSPECTION DATES
Monday, July 14 & Monday, July 28 from 9-11AM

PROPERTY LOCATION
From the intersection of the Broken Arrow Expressway and Kenosha Street (71st), exit on Kenosha and travel east for 0.4 miles. Turn left at the first light onto N 23rd Street and follow for 1 mile. Turn right on Albany Street (61st) and continue for 1/2 mile and property will be on your left.

AUCTION LOCATION
7501 E Kenosha Street, Broken Arrow, OK 74014.
Directions: From the intersection of Broken Arrow Expressway and Kenosha Street (71st), exit on Kenosha and travel east for approximately 4 miles. Forest Ridge Golf Club will be on your right.

PROPERTY DESCRIPTION
The property sits within sight of Broken Arrow High School, approximately 1/2 mile to the east on Albany Street. Currently, the property is zoned A-1, for agricultural use. However, within Broken Arrows most recent comprehensive plan the property is classified as Level II-Urban Residential. For more thorough information regarding: utility availability, detailed mapping, survey and title work please reference our Bidder Information Packet. The acreage will be offered in 5 individual tracts, and as combinations.

TRACT DESCRIPTIONS
Tract 1: 10± ac corner tract located at the intersection of E Albany and 209th E Ave.

Tract 2: 10± ac tract with frontage along E Albany Street, this tract includes the original farmhouse, storage shed and silos.

Tract 3: 20± ac tract with frontage along E Albany Street, mostly level and open topography on the south end of the property that tapers into a rolling and treed acreage on the north.

Tract 4: 20± ac tract with frontage on E Albany Street, combination of open areas and trees on the west side of the acreage closest to Broken Arrow High School.

Tract 5: 20± ac tract with frontage on 209th E Ave, which is believed to be expanded in the future according to city officials. This parcel will be offered as a swing tract and bid on in combination with adjoining parcels only.

ONLINE BIDDING AVAILABLE: You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Kevin Jordan at Schrader Auction Co. - 800-451-2709.


SOIL INFORMATION


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TRACT MAP(S)



AREA MAP(S)



PROCEDURE: Property will be offered in 5 individual tracts, in any combination of these tracts, or as a total 80+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete. The property will be sold in the manner resulting in the highest total sale price.

DOWN PAYMENT: 10% of the accepted bid price as down payment on the day of auction with the balance in cash at closing. If the bidder pre-registers with the Auction Company then cash or a personal check will be accepted for the down payment (contact Auction Company for a pre-registration form or visit www.schraderauction.com). If the bidder does not pre-register, a bank letter of credit or guarantee will be required with a personal check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. The auction bids.

are subject to the acceptance or rejection by the Seller.

DEED: Seller shall provide Special Warranty Deed or Trustees Deed.

EVIDENCE OF TITLE: Seller agrees to make available to bidder a preliminary title insurance commitment to review prior to auction. The cost of title insurance, if the buyer(s) elects to purchase the title insurance policy, will be the responsibility of the buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar related matters. All tracts sold AS-IS.

CLOSING: The closing shall take place 45 days after the auction or as soon thereafter as applicable closing documents are completed by Seller.

PLANNING APPROVAL: All tract divisions are subject to approval by the Osage County Planning Commission.

POSSESSION: Possession of the land shall be at closing.

REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.

MINERALS: Less and except all minerals including without limitation, oil, gas, coal, coalbed methane, and all other hydrocarbons, lignite, and all metallic minerals, etc., if any associated with the reference real estate, and the term Property will not include any mineral rights.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, if a new survey is determined to be necessary by the Seller.

ACREAGE AND TRACTS: All acreages are approximate and have been estimated based on current legal descriptions and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.

AGENCY: Schrader Real Estate and Auction Company, Inc. and their representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase.

Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. 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 subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

NEW DATE, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes or additions to the property information.