Gray County Grassland and Dryland

Auction Terms & Conditions. TX Auctioneer License #18046 TX Broker License #9012960

PROCEDURE: This 787.63 +/- Acres will be offered in (7) seven individual tracts. There will be open bidding on all tracts and combinations until 
the close of the auction. The property will be sold in the manner resulting in the highest total sale price. 
BUYER PREMIUM: A five percent (5%) Buyer Premium is in effect for all purchases. The Buyer Premium will be added to the “Auction Price” to 
determine the “Sales Price” or “Contract Price”.
ACCEPTANCE OF BID PRICES: This is an Absolute Auction. All successful bidders will sign a purchase agreement at the auction site immediately 
following the close of the auction. 
 
EARNEST MONEY: Ten percent (10%) earnest money on the day of the auction, upon signing a purchase agreement immediately following the close 
of bidding. The earnest money 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. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are 
capable of paying cash at closing.
REAL ESTATE TAXES AND ASSESSMENTS: The Property Taxes will be prorated to the date of closing. Seller shall have paid all Property Taxes for 
prior years before closing. The Buyer(s) will be responsible for any “rollback” in the property taxes. The Buyer(s) will be responsible for all additional taxes imposed after the date of execution of the Special 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(s) and the Buyer’s heirs, personal representatives 
and assigns.
 
BROKER PARTICIPATION: Contact the Auction office to obtain the broker participation guidelines. 
CLOSING: Will take place on or before January 19, 2024 ,or as soon as applicable closing documents and surveys (if needed) are completed. 
POSSESSION: Possession will be given at closing on Tract 1-6, Tract 7 possession will be given at time of harvest of growing Wheat crop.
 
Lease Payment: The Buyer of Tract 7 will receive a $2,800.00 Cash Lease at closing. 
TITLE: Seller shall provide an Owner’s Policy of Title Insurance on the surface tracts in the amount of the purchase price. Buyer(s) will be 
responsible for all expenses related to acquiring a mortgagee’s title policy, if required. Seller shall execute a Special Warranty Deed conveying the 
real 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. No surface lease will survive 
closing. 
SURVEY: AT THE SELLER’S OPTION, 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 the auction. Any need for a new survey will be determined solely by the Seller. The Seller will provide a survey at 
it’s own cost, if needed. The type of survey performed shall be at the Seller’s option and sufficient for providing title insurance. All advertised 
acreages are approximate and have been estimated based on current legal descriptions and/or aerial photos.
MINERAL RIGHTS: All Owned Minerals will convey. 
AGENCY: Clift Land Auctions, and Clift Land Brokers and its representatives are exclusive agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information used in the marketing of this property is subject to the terms and conditions 
outlined in the agreement to purchase. ANNOUNCEMENTS MADE BY THE AUCTIONEER 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 Sellers 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. The information used in marketing this property 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. Conduct at the auction and increments of bidding are at the direction and 
discretion of the Auctioneer. 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 Auctioneer 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 approval from Clift Land Auctions,