PROCEDURE:The property will be offered in 19 individual tracts, any combination of tracts, or as a whole property. The property will be sold in the manner resulting in the highest total sale price.
BIDDERS: Bidders must register at the auction and must be of legal capacity to enter into an agreement to purchase. All bidders must provide their name, company (if applicable), mailing address, phone number and email address (the “Buyer Information”) prior to the auction. By registering, bidders represent and warrant any and all Buyer Information is accurate and complete and agree to abide by the Auction Terms & Conditions.
BUYER’S PREMIUM: A Buyer’s Premium of five percent (5%) of the successful bid price will be due from Buyer(s) at closing. The Buyer’s Premium will be added to the final bid price to determine the total contract purchase price.
DOWN PAYMENT: A ten percent (10%) non-refundable down payment of the total contract purchase price will be due immediately after being declared the Buyer. The down payment may be paid in the form of personal check, business check, or cashier’s check. The balance of the contract purchase price is due in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.
POSSESSION:Possession shall be given at closing subject to any remaining rights of the tenant on the existing farm lease that affects Tracts 2, 4, 5, and 10. All 2018 farm income shall be retained by Seller.
ACCEPTANCE OF BID PRICES: All successful bidders shall sign an agreement to purchase at the auction site immediately following the close of bidding. All prior offers, acceptances, oral representations, agreements and writings between the parties shall be of no force or effect until such time the parties enter into an agreement to purchase. All final bid prices are subject to approval or rejection by Seller in its sole discretion.
CLOSING: Anticipated closing date is on or before December 31, 2018, or as soon as all necessary closing documents are available.
SURVEY, ACREAGE AND SQUARE FOOTAGE: No survey will be provided by Seller. All advertised acreages and square footages are approximate and have been estimated based on legal descriptions, tax records, and/or aerial photographs. Should a discrepancy exist between the actual acreage and/or the actual square footage and the advertised amounts, the contract purchase price shall not be adjusted to reflect the actual acreage or the actual square footage.
TITLE: Seller shall furnish the Buyer(s) at Buyer’s expense an Owner’s Policy of Title Insurance in the amount of the purchase price and agrees to provide and execute a quit claim deed sufficient to convey title to the real estate to the Buyer(s).
REAL ESTATE TAXES AND ASSESSMENTS: The 2018 calendar year taxes shall be prorated to the date of closing. Seller will be responsible for all prior taxes and Buyer(s) will be responsible for all subsequent taxes. Special assessments, if any, shall be paid by Buyer(s).
EASEMENTS, ENCUMBRANCES & LIENS: Sale of the property is subject to any and all recorded or apparent easements, encumbrances, and liens, if any.
WATER PERMITS: The wells on Tracts 2 & 3 on the property are permitted by the Commonwealth of Virginia Department of Environmental Quality. If the property is sold as a whole, Seller will request the permits to be transferred to the successful Buyer to the extent same is transferable. If the property is sold in multiple tracts, Seller shall request the permits to be transferred based on the specific tracts on which the wells are located to the extent same is transferable. Any costs to effectuate such transfers of permits shall be paid by Buyer.
MINERAL RIGHTS: Sale of the property shall include all mineral rights owned by Seller, if any.
AGENCY: The Auction Company (including its representatives) is the exclusive agent 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 agreement to purchase. ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. 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 or the Auction Company and in no event shall either be responsible for the correctness of description, attribution, authenticity, authorship, completeness, condition of the property or estimate of its value. No statement (oral or written) in the brochure, at the auction, or elsewhere shall be deemed such a warranty or representation, or any assumption of responsibility. 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 Seller or the Auction Company. 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 auction and increments of bidding are at the direction and discretion of the Auction Company. Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, or for any reason whatsoever. All decisions of the Auction Company are final.
NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.
NOTE: Videotaping, flash photography, and/or public announcements will be allowed on auction day ONLY with prior written approval from the Auction Company and Seller.
SELLER: Del Monte Fresh Production, Inc. and Virginia Land Produce LLC.
