356 acres located in Riley County, KS
April 1, 1 p.m. CST

Auction | details

Internet bidding · location · property information · pictures · auction recommendations · broker participation · auction terms

Auction date and time
The auction will be held at 1 p.m. CST on April 1, 2008.

Close of bidding
Internet bidding closes before the auction at 12 p.m. CST.

Property location
Five miles northwest of Manhattan on Tuttle Creek Blvd. Turn east on 59th or County Rd. 402. The 356 acres are on the north side of the road starting just past 63rd ave.

Auction location
825 Levee Dr. Manhattan, KS

Zoning
Agricultural with rezoning potential

Internet | bidding

property | location

property information

Overview

This auction consists of five tracts of rolling hills and pasture ground totaling 356 acres approx. 5 miles north of Manhattan and west of Tuttle Creek Reservoir. Tracts range from 100 acres to 25 acres and all feature roadside frontage. The property will be offered in multiple tracts, in combinations thereof and in its entirety. The property is offered absolute with no reserve or minimum.

Property features

This property features rolling hills, Bluestem pasture ground, timber lined ravines, some shrubs and brush, cedar groves and spring fed creeks. The entire acreage is fenced. 45 to 50 cow/calf pairs have been pastured on this land for the last 50 years sustained by the spring water and Bluestem grasses.
All tracts feature black-top road frontage and rural water district #1 water from Manhattan. A view of the lake is possible from the easterly tracts.

Tract specifics

The property will be offered in multiple tracts, in combinations thereof and in its entirety. The property will be sold by the tract, not the acre. Acreages used in promotional and sales materials are a guide and subject to change pending surveys obtained by buyers after the auction.

Tract 1

Tract 1 (lot 2001) totals 25 acres (+/-).

• 1250' for frontage (+/-)
• 25 acres (+/-)
• Perfect potential homesite

Tract 2
Tract 2 (lot 2002) totals 86 acres (+/-).

• 550' for frontage (+/-)
• 86 acres (+/-)
• Majority is open, rolling pasture ground

Tract 3
Tract 3 (lot 2003) totals 75 acres (+/-).

• 1350' for frontage (+/-)
• 75 acres (+/-)
• Draw land north and south ends

Tract 4
Tract 4 (lot 2004) totals 100 acres (+/-).

• 1600' for frontage (+/-)
• 100 acres (+/-)
• Lake view

Tract 5
Tract 5 (lot 2005) totals 70 acres (+/-).

• 1350' for frontage (+/-)
• 75 acres (+/-)
• Lake view

Combinations

Three combinations are currently listed for pre-auction bidding. All combinations will be accepted at the auction. If you would like to bid on a combination of tracts that are not listed please email lucas@purplewave.com and it will be added promptly.

The combinations currently offered are:

• Tracts 1,2,3,4 and 5 (lot 1005) 356 acres (+/-)
• Tracts 3,4 and 5 (lot 2007) 245 acres (+/-), the eastern portion of the land
• Tracts 1 and 2 (lot 2006) 111 acres (+/-), the western portion of the land

Questions

If you have any questions about the land, the auction schedule or the multipar method of auctioning please contact Dave Sommers at 785.341.9238 or email sommers@purplewave.com

Legal description
Tract 1: The South Half (S1/2) of the Southeast Quarter (SE1/4) of Section Eight (8), Township Nine (9) South, Range Seven (7) East of the 6th P.M., in Riley County, Kansas
Tract 2: The West Half (W1/2) of Section Seventeen (17), Township Nine (9) South, Range Seven (7) East of the 6th P.M., Riley County, Kansas, LESS 9 acres in the Northwest Quarter of Section 17, Township 9 South, Range 7 East of the 6th P.M., described as follows: Beginning at a point that is 7 rods North of the Southwest corner of said Northwest Quarter of said Section 17; thence East 24 rods; thence North 60 rods; thence West 24 rods; thence South 60 rods to the place of beginning, AND LESS all of the Southwest Quarter lying northeasterly of Kansas Highway 177 and Southeasterly of Riley County Road 402, in Section 17, Township 9 South, Range 7 East of the 6th P.M., in Riley County, Kansas containing 118 acres more or less, which last excepted tract in Deed recorded in Book 669, Page 4 of the Riley County Register of Deeds AND LESS one acre by Warranty Deed recorded in Book 52, Page 231 in the office of Register of Deeds of Riley County, Kansas.
Tract 3: The Northeast Quarter of Section Seventeen (17), Township Nine(9) South, Range Seven (7) East of the 6th P.M., in Riley County, Kansas lying north west of the centerline of Riley County Road 402.
Note: Legal descriptions apply to existing tracts not the new tracts being offered for auction. Tracts being offered for auction are unsurveyed.

Taxes
2007 Tract 1: $139.76
2007 Tracts 2 and 3: $810.48
No specials
Note: Taxes apply to existing tracts not the new tracts being offered for auction. Tracts being offered for auction are unsurveyed and not been taxed.

Property | pictures

356 acres of land in Riley County

Property views

Crossroads at corner of property

Crossroads

View from road

Valley and treetops

View of fence and roadside

Roadside terrain

Pathway through land

View from road

Hilltop view

View from road

View of surrounding fence

View from fence

Rolling flint hills

Hillside with trees

Pasture land view

Rolling flint hills

Pathway through land

Hillside with trees

View of lake from land

Pathway and hills

View of landscape

View of landscape

View of lake and hills

Property from roadside

Hills and valley

View from road

View of lake from hilltop

Fence and pasture

View of road from property

Rolling pastures

Hilltop view

Fence and trees from road

View from road

Rolling hills and road

Trees and hills from road

Rolling flint hills

Rolling hills and road

View from road

Long distance view of pasture

Hills and valley

Long distance view of pasture

Fence and hills

Trees and stream

Hilltop view

Rolling flint hills

View of road along property

View of road along property

Hilltop view

Fence and trees along road

Trees along roadside

Hills and valley along road

Trees and stream

Trees in valley

Aerial view of land

auction | recommendations

Thoroughly read the property information document and familiarize yourself with the properties offered and the auction terms and conditions. If you will require financing, please see a lender for pre-qualification. If you have questions about the terms, conditions or purchase agreement, contact our office and speak with one of the auction staff.

Attend an open house/preview and inspect or drive-by each property in which you are interested. Establish a range of value for the property and bid within your limits. We do not recommend that you bid on a property that you have not seen. There is not an inspection period after the auction.

The deposit listed in the terms is due upon being declared the winning bidder on auction day. The deposit is non-refundable.

When preparing a sealed bid, if offered, read through the property information package. It may contain title information, income/expense statements, surveys, and general property information. It will also completely detail the sealed bid process.

All information about the property has been provided by the seller. All bidders must verify all information to their own satisfaction prior to bidding.

Immediately upon completion of the auction, winning bidders will be required to execute an Auction Contract. Please be prepared to close the transaction within 30 days.

Buying real estate at auction is simple and easy.
Good luck in your bidding!

auction | buyer broker participation

For the properties located at 356 acres of land in Riley County in , KS, to be auctioned on April 1, 2008, a commission will be paid to any properly licensed real estate broker whose buyer is the successful purchaser for this property and who actually closes and pays the total contract sale price for the property. The commission shall be paid as follows:

Three percent commission will be paid on any pre-sale or written opening bid amount shown on the broker participation form, included in this document or available upon request. A one percent commission will be paid on the amount by which the successful high bid at auction, not including the buyer's premium, exceeds the bid amount indicated on the broker participation form.

To earn the buyer broker commission, the participating broker must register his or her bidder by completing the broker participation form in full and must fax, mail, or email it to the auctioneer. The form must be received no later than 24 hours prior to the start of the auction.

Download buyer broker participation form

The form should be sent to

Purple Wave Auction, Inc.
825 Levee Dr
Manhattan, KS 66502

auction@purplewave.com
785.539.5356 f

auction | terms

Conditions of sale
Everyone must register for a bidding number. The owner warrants to convey marketable title to the real estate through a limited warranty deed, free from all encumbrances, liens, or judgments at the time of closing.

Buyer's premium
A 10% buyer's premium will be added to the bid to establish the contract price the successful bidder must pay. For example, a bid of $100,000 will be assessed a $10,000 buyer's premium, creating a contract price of $110,000.

Restrictions
The property is sold subject to all city, county, and state laws, ordinances, and regulations as well as any and all easements, encumbrances, and restrictions applicable to the property. Seller is placing no restrictions on the property.

Release
By its acceptance of the deed, buyer shall be deemed to release seller, Purple Wave Realty, and Purple Wave Auction, Inc. from any and all claims and liabilities relating to any defect, deficiency of other matter concerning the property including, without limitation, the quality, condition, quantity, or use of the property. Sellers, Purple Wave Realty and Purple Wave Auction, Inc. give no warranties of any kind either expressed or implied, with respect to the condition, merchantability, use size, configuration, design, or suitability of the property.

Legal courses of action
Bids are a binding offer to enter a contract and you are responsible for honoring them. Every legal remedy available will be used to ensure buyer's performance of this contract. Buyer accepts responsibility for and agrees for buyer and all of buyer's agents, representatives, successors and assigns to indemnify, defend and hold harmless sellers, Purple Wave Realty, Purple Wave Auction, Inc., their employees, governing body, officers, owners, affiliates, subsidiaries, directors, agents, and representatives from and against any and all claims, losses, damages, liabilities, judgments, fees, costs, and expenses including reasonable attorneys' fees and expenses related to, arising from, or associated with (I) the sale of the property, including, but not limited to, personal injuries or property damage incurred on the sale premises or during removal and transport of any auction item, (II) buyer's use of Purple Wave Auction, Inc.'s website and (III) a dispute with another bidder.

Arbitration
For disputes between buyer and seller, Purple Wave Realty and/or Purple Wave Auction, Inc., that are not resolved by the parties within ten days after any party gives notice to the others of its desire to arbitrate the dispute, the dispute shall be settled by binding arbitration by the American Arbitration Association in accord with its then-prevailing rules. Such arbitration shall be conducted in Manhattan, Kansas. Judgment upon the arbitration award may be entered in any court having jurisdiction. The arbitrator shall have no power to change the provisions of this agreement. The arbitrator shall consist of one arbitrator, who must be a real estate attorney actively engaged in the practice of law for at least the last five years.

Bid rejection
Purple Wave Auction, Inc. reserves the right to reject any and all bids from any bidder.

Bid retraction
By placing a bid, buyer and all other bidders acknowledge all terms of the auction and agree not to retract the purchase offer. If a bidder cannot satisfy the terms of the auction, the bidder should not bid.

Assessment of condition
All bidders, including buyer, should rely solely on personal inspection and not information listed in this property information document, on the website, or otherwise provided by Purple Wave Realty, Purple Wave Auction, Inc. or seller. Any bidder's failure to inspect, or otherwise be fully informed as to the nature, quality, condition, quantity, and size of any items will not constitute grounds for any claim, adjustment, refund, termination of the Auction Contract, or refusal to close the sale.

Auction contract
Please note that the Auction Contract executed by buyer and seller immediately following the close of the auction will be written based on the manner in which buyer bids. Buyer will be closing on the tract or combination of tracts on which buyer is the successful bidder in the final manner in which buyer bids at the auction.

Real estate brokerage services disclosure
Purple Wave Realty and its auctioneer, Purple Wave Auction, Inc., represent the seller in this transaction. They do not represent the buyer in any manner and they must be completely loyal and faithful to the seller. Purple Wave Realty has an exclusive right to the listing for this transaction. All negotiations must be conducted through Purple Wave Realty. Purple Wave Realty is the exclusive agent for the sellers in this transaction. All successful bidders will be required to sign an agency disclosure form at the time of signing the Auction Contract, if applicable.

Property Dimensions and Units
The property will be sold by the tract, not the acre. Acreages used in promotional and sales materials are a guide and subject to change pending surveys obtained by buyers after the auction. Descriptions are believed to be correct, however neither Purple Wave Realty, LLC, Purple Wave, Inc., nor seller(s) warrant or guarantee precise accuracy and will not be held responsible for discrepancies or inaccuracies.

Purple Wave Realty's involvement in contract
The seller and buyer hereby agree that Purple Wave Realty is an intended third party beneficiary of the Auction Contract and shall receive compensation as stated in the agreement between it and seller.

Utilities
Neither Purple Wave Realty, Purple Wave Auction, Inc. nor the seller guarantees the availability of utilities, public or private. This exclusion consists of, but is not limited to, wells, septic tanks, access to public utilities, or any hook-up fees therewith. Confirmation of utility availability is the bidder's sole responsibility.

Terms
A 10%, non-refundable deposit based on the contract price will be due from buyer immediately after buyer is declared the winner. The balance shall be payable in cash at closing in 30 days. This transaction is not contingent on the buyer obtaining financing or upon any other event except as specifically referred to in these terms and conditions. Personal or business checks will be accepted with a bank letter guaranteeing payment of such funds.

Remedies
If buyer chooses not to close within the stated time herein and no written extension has been granted by the seller, the buyer will forfeit all the deposit and Purple Wave Realty may disperse the deposit as stated in the listing agreement. Notwithstanding the foregoing, seller may seek any other relief or remedy in law or equity, including suing the buyer for specific performance, which buyer expressly agrees is permitted, and/or any additional damages the seller suffers by the default of the buyer.

Escrow
All monies collected on sale day will be deposited in an escrow account, the location of which is listed below.

Capital Title Insurance Company
4805 Vue Du Lac Place
Manhattan, KS 66503

Possession
Buyer shall receive possession of property at the date of closing.

Multiple tract sales
Individual purchases are to be considered as singular transactions not contingent on the sale of other properties or tracts. Purple Wave Realty reserves the right to offer the property in individual tracts or lots, combinations of tracts or lots, as a whole or in anyway that we see fit in order for it to bring the most money for the seller. The sale of combinations supersedes the sale of individual tracts. The decision of the auctioneer is final. Seller and Purple Wave Realty reserve the right to amend any terms or conditions prior to or during the auction.

Closing cost
Buyer shall pay all closing costs associated with purchasing the property. Such costs include but are not limited to examination of title and / or title insurance, fees charged by a lender or lenders, property insurance, mortgage insurance, credit report(s), property legal survey, all recording fees, and fees charged for services by the escrow and / or closing agent. Additionally, any other fees associated with the transaction, including inspections such as termite or other pestss, whole house or lead based paint, shall be paid by the buyer. Also, buyer(s) shall pay for charges and fees by buyer's attorney. Seller shall not pay any closing costs.

Closing location and agent
The closing location and agent will be determined on or before the auction date.

Title insurance
All title insurance commitment fees and premiums will be paid by buyer.

Taxes
Real estate, personal property, and other taxes or governmental assessments against the property will be prorated to the day of closing.

Miscellaneous
All prior understandings and agreements between the parties are merged into this agreement, which constitutes the entire agreement between the parties. Time is of the essence of this agreement. This agreement shall be construed in accordance with and governed by the laws of the state of Kansas. No delay or failure by seller to exercise any right hereunder, and no partial or single exercise of such right, shall constitute a waiver of that or any other right, unless otherwise expressly provided herein. This agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legal representatives, and assigns.