TERMS AND CONDITIONS OF SALE
REAL PROPERTY LOCATED AT
5564, 5569 EKE ROAD, TOWN OF HARMONY,
COUNTY OF CHAUTAUQUA, STATE OF NEW YORK,
IDENTIFIED AS TAX PARCELS: 332.00-2-30, 34, 35, 36
WILL BE OFFERED FOR SALE AT PUBLIC AUCTION
ON SATURDAY, NOVEMBER 12, 2016. BIDDING TO BEGIN AT 4:30
The auction will
be held on location and all parcels will be offered from Lot #2
Lots will be sold
individually and then offered as a whole in the following manner:
individually in this order: #2, #3, #1
The amount of
these three bids will be totaled, the bidding will be reopened and the property
will be offered as a whole by increasing the high bid of the individual parcels
total by 10%.
Auction Parcel # 1 23 +/- Acres vacant land with right
of way to Eke Road across existing driveway. The purchaser of this Lot is
required to have it surveyed and pay for such survey prior to closing. Oil,
Gas, Mineral & Timber rights will transfer, Carol Adamson will retain all
gas royalties for her lifetime and free gas allotment will be retained by
purchaser of parcel # 2.
Auction Parcel # 2 12 +/- Acres land with shop, house
and out buildings. The purchaser of this Lot is required to have it surveyed
and pay for such survey prior to closing. Oil, Gas, Mineral & Timber rights
will transfer. Carol Adamson will retain all gas royalties for her lifetime. Free
gas allotment will remain with this parcel and the right to maintain supply
line to well indefinitely.
Auction Parcel # 3 60 +/- Acres land w/ pond & camp.
The purchaser of this Lot is required to have it surveyed and pay for such
survey prior to closing. Oil, Gas, Mineral & Timber rights will transfer.
Carol Adamson will retain all gas royalties for her lifetime. Free gas
allotment will remain with auction parcel #2 and the right to maintain supply
line to well indefinitely.
(1.) This property
is being offered for sale AS IS, WHERE IS, with no guarantees or warranties
of any sort, either actual or implied, including but not limited to the
existence of a septic system, plumbing, heating, electrical, interior and
exterior of all buildings, any fixtures, and the land. If required the
Purchaser will pay for a Chautauqua County health department septic and water
test at closing and will pay for any and all repairs or updates if required by
(2.) All property boundaries are approximate, and no
guarantees of any kind are given with respect to the acreage shown on tax maps
or referred to in any existing deeds, surveys, or sale literature. A land
survey is required for all individual lots and it is the responsibility of
Purchasers to order and pay for such land survey prior to closing. In the event
all auction parcels are combined and sell as a whole property will transfer on
legal description prepared by sellers attorney.
(3.) Prospective Purchasers are responsible for
inspecting the property, being knowledgeable about its physical condition and
any existing zoning regulations, leases, easements, rights of way, or other
restrictions regarding its use, and understanding closing costs and fees, PRIOR
TO THE AUCTION.
(4.) The sale will be subject to the approval of
the Sellers within 48 hours of the auction. The Sellers reserves the right to
accept or reject any and all bids, for any reason whatsoever.
(5.) The successful high bidders / bidder will
immediately sign a Contract for Sale of Real Property and will place the
following deposits: Lot #1 - $ 5,000.00, Lot #2 - $ 5,000.00 Lot #3 $ 5,000.00
or a total of $15,000 for the combination bid in the form of cash or good check
with Mike Peterson Auction & Realty Service to be held in their escrow
account until closing.
(6.) The deposits will NOT be refunded if the sale
is not completed due to the default of the Purchasers for any reason and
therefore will be forfeited to the seller.
(7.) The deposits WILL be refunded in full to the
Purchasers if the sale is not completed due to the default of the Seller for
(8.) The BALANCE will be due AT CLOSING, ON OR
BEFORE December 30, 2016. POSSESSION will be granted at closing. Seller will
retain the rights to all rental income until closing. Seller will maintain all
utilities until closing.
(9.) The Seller shall furnish an Insurable title
to the Purchaser, free and clear of any liens or encumbrances, subject to any
leases, easements, rights of way, or deed restrictions of record. Sellers gas,
oil, mineral and timber rights will transfer to the purchaser at closing with
the one exception of the royalties (gas & oil), which will remain with
Carol Adamson for her lifetime at which point will revert to land owners of
COSTS - The Seller will pay for the Title Search update, Purchasers will pay
for all other closing cost including Revenue Stamps, TP 584 Filing Fee, Deed
Recording Fee, RP5217 Filing Fee, and any costs in obtaining financing. Each
will pay own attorney fees.
(11.) ALL 2016 PROPERTY TAXES will be APPORTIONED
and PRORATED as of the CLOSING DATE. Any and all delinquent taxes will be paid
in full prior to closing by sellers.
(12.) Michael W.
Peterson is acting only as Sales Agent for the Seller, and has no personal
interest in the property.
ANY ANNOUNCEMENTS MADE
BY THE AUCTIONEER
ON THE DAY
OF THE SALE WILL
TAKE PRECEDENCE OVER
ANY PRINTED MATERIAL.
THE SELLER AND
HIS SALES AGENTS WILL NOT BE HELD RESPONSIBLE FOR ANY ACCIDENTS SHOULD THEY
OCCUR BEFORE, DURING, AFTER, OR BECAUSE OF THE AUCTION.
Adamson, Estate of William Adamson / Norm Green executor
BROKER: Michael W. Peterson, Mike Peterson Auction and
1432 Kiantone Road, Jamestown, New York
Telephone: 716-665-0668 Fax: 716-661-9629