Carson County Sealed Bid Auction

PROCEDURE:  This Sealed Bid Auction for a total of 479 +/- Acres will be offered in one (1) individual Tract with bidding procedures outlined in the Sealed Bid Packet.
BIDDER QUALIFICATIONS:  YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged for financing, if needed, and are capable of paying cash at closing. Potential bidders must request a Sealed Bid Packet by calling 800-299-5263 or by email at LandUpdate@CliftLandBrokers.com. Submission of a sealed bid for this auction represents your acceptance of these terms and conditions.
SUBMISSION OF SEALED BID:  Sealed Bids must be received by Clift Land Brokers, Attn:  Gary Sutherland, 601 W. Kentucky St., Ste. 104, Pampa, Texas 79065 no later than 12:00 pm noon CST on Wednesday, January 19, 2022. Sealed Bids must be enclosed in a sealed envelope along with the Earnest Money check and delivered by US Mail, Overnight Express Mail, Commercial Courier, such as FedEx, or Hand Delivered. No liability will attach to the Auction Company, Broker or the Seller or any other party for failure to receive or open any offer.  Any offer which fails to meet the above deadline and submission requirements or which is nonconforming in any other respect may be deemed nonresponsive/nonconforming and may not be considered. The Sealed Bid Offer shall set forth the price at which the Bidder commits to pay to purchase the Property subject to these Terms & Conditions.
ESCROW PAYMENT: Ten percent (10%) escrow payment must accompany each Sealed Bid. The escrow payment should be made payable to Carson Co Abstract Company and may be paid in the form of  personal check, business check, or cashier’s check. The remainder of the purchase price is payable in cash at closing. Each Bidder, whose bid is not accepted, will have their Escrow Payment returned as soon as reasonably practical. The Escrow Payment of the winning Bidder will be held pursuant to the terms of the Farm and Ranch Contract and will be applied toward the purchase price of the Property.
ACCEPTANCE OF BID:  All Sealed Bids will be opened and reviewed by the Broker and the Seller. The Board of Regents of Clarendon College (the “College”) has set a reserve amount on this Property, being the minimum bid amount that the College may accept. The College reserves the right to conduct a Best and Final Offer Round, or to terminate the Auction of the Property and return any Escrow Payments to the Bidders. The College reserves the right to make the final decision regarding whether to hold a Best and Final Offer Round and further reserves the right to NOT offer the Property at the Best and Final Offer Round. If the College decides to hold a Best and Final Offer Round, such round shall occur on Thursday, January 20, 2022 at 6:00 pm CST.  The Broker and the College will determine the best bids from the initial offers and the corresponding bidders may be invited to participate in the Best and Final Offer Round, which will be conducted via telephone and email. The College reserves the right to make the final decision regarding which bidders are allowed to bid in the Best and Final Offer Round and further reserves the right to NOT offer the Property at the Best and Final Offer Round, if it so chooses.
AWARD OF CONTRACT: At the conclusion of the Sealed Bid process, the Broker and the College may award the sale of the property to the accepted Bidder. At that time, the winning Bidder (“Buyer”) will be notified, and the College and Buyer will immediately enter into a Farm and Ranch Contract, using a Texas Real Estate Commission, Farm and Ranch Contract (TREC NO. 25-14).
REAL ESTATE TAXES & ASSESSMENTS: The Property Taxes will be prorated to the date of closing, and Seller shall have paid all Property Taxes for prior years before closing. The Buyer will be responsible for any “rollback” in the property taxes. The Buyer will be responsible for all additional taxes imposed after the date of execution of the General Warranty Deed by seller as a result of any change in use of any part of the subject property, the intent being that all such additional taxes shall be the responsibility of the Buyer and the Buyer’s heirs, personal representatives and assigns.
CLOSING: Will take place on or before March 2, 2022, or as soon as applicable closing documents are completed. 
POSSESSION:  Possession will be given after the harvest of the growing wheat crop.
TITLE:  Seller shall provide an Owner’s Policy of Title Insurance on the surface tract in the amount of the purchase price. Buyer will be responsible for all expenses related to acquiring a mortgagee’s title policy, if required. Seller shall execute a General Warranty Deed conveying the surface estate to the Buyer.
PROPERTY CONDITION: Property to be sold AS IS—WHERE IS and no warranty or representation, either express or implied, will be given to any bidder or Buyer.  Buyer shall release Seller of any and all liability.
EASEMENTS AND LEASES: Sale of the property is subject to any and all easements of record and any and all leases. There is a continuation of a farm lease with the Tenant that originally expired on December 31, 2020. The lease payment will be prorated to the date of closing.
MINERAL & WIND RIGHTS:  Seller will reserve an undivided one-half (1/2) of Seller’s right, title and interest in the oil, gas, and other minerals in and under and that may be produced from the Property. Additionally, Seller will reserve an undivided one-half (1/2) interest in any future wind rights royalties attributable to the Property.
SURVEY:  No survey will be provided by the Seller.
AGENCY:  Clift Land Auctions, LP and Clift Land Brokers and their representatives are exclusive agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES:  All information contained in the promotion and advertisement of this Auction 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 the Seller, the Broker, the Auction Company or any of their respective representatives. All sketches and dimensions are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. 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. Each potential Bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence
concerning the property. Bidders should complete this due diligence prior to bidding on this Auction. The Seller, Broker and Auction Company reserve the right to preclude any person from bidding, if there is any question as to the person’s credentials, fitness, etc. All decisions of the Auction Company are final.
SELLER:  Clarendon College