Tract 7—Net Mineral Tract
One-Third (1/3) of all Mineral Interest with Royalties under Tracts 4, 5, and 6 (E/2 of Section 171, Block B-2, H&GN Survey, Gray County, Texas).
This Tract will be sold individually and may not be combined with any other Tract.
PROCEDURE: This 955 +/- acre property will be offered in six (6) surface tracts and one (1) net mineral tract. 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. The Tract 7 Net Mineral Tract may not be combined with any other tract.
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. The 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 the 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: Closing will take place on or before December 31, 2021, or as soon as applicable closing documents and surveys (if needed) are completed.
POSSESSION: Possession will be given at closing, with the exception of Tracts 4 & 5 where possession is subject to the Crop Share Lease.
TITLE: The 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. The Seller shall execute a Special Warranty Deed(s) conveying the real estate to the Buyer(s). Tract 7 Mineral Tract will convey with a Mineral Warranty Deed.
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. The Buyer shall release the Seller of any and all liability.
EASEMENTS AND LEASES: The sale of the property is subject to any and all easements of record and any and all leases. Tracts 4 & 5 are currently leased on a crop share basis with 1/3 crop rent. The Buyer(s) of these two tracts will receive the crop rent for the 2021-2022 wheat crop.
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: One-third (1/3) of all Mineral Interest & Royalties under Tracts 4, 5, and 6, which is the E/2 of Section 171, Blk B-2, H&GN Survey, Gray County, Texas, shall be offered as Tract 7 in this Auction. No other mineral interests shall convey. Tract 7 may not be combined with any other tract in this Auction.
AGENCY: Clift Land Auctions, LP and Clift Land Brokers and its representatives are exclusive agents 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 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 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. The information regarding 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. 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 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. Online bidding will be available on our website for this Auction. If you need assistance in registering to bid on our website, please call our office at 800.299.5263. In accepting the terms and conditions for the use of our website, you agree to not hold Clift Land Auctions, LP, Clift Land Brokers, our affiliates, or our representatives responsible or liable for the functionality of the bidding platform. Problems in placing bids on the online bidding platform could be caused by internet connections, human error, wireless connections, etc. If you have trouble placing your online bid, immediately call Brady Cowan at (940) 733-9608 for assistance in placing your bid.
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, LP.
On Thursday, November 18th at 2:00 pm CST we will offer at auction a total of 955 +/- acres of Grassland and Cropland that is located south of Pampa, Texas in Gray County. This acreage will be divided into six surface tracts. Tracts 1, 2, & 3 are contiguous with good to average old perimeter and cross fences. The fence between Tracts 1 & 2 will need to be replaced, if these Tracts are not purchased together. All three Tracts have some old oil production. Some wells are still producing and some are not. The Sellers own no minerals under this Section. The water well on Tract 1 currently can furnish water to all three Tracts. A pipeline runs across the Section from the well on Tract 1 to Tract 3.
Tracts 4, 5, & 6 are contiguous with FM 293 access.
There will also be a Tract 7 which is a Mineral Tract. This mineral tract cannot be combined with any other tract. This consists of one-third (1/3) of all mineral interest with royalties under Tracts 4, 5, and 6.
This 242 +/- acre tract has SH 70 access. It is mostly expired CRP with Bluestem grass. It is level to sloping-rolling grassland with mostly loam soils. There are approximately 40 acres of native grass with a draw that drains to the north toward the North Fork of the Red River. In the southeast corner of this tract is a domestic well with an electric submersible pump, as well as an old garage and other old livestock sheds and pens.
This 167 +/- acre tract is mostly level to slightly sloping grassland with loam soils. All of this tract is expired CRP with Bluestem grass. Access is provided by SH 70 on the east and Davis Rd on the south.
With great access provided by Davis Rd on the south and Thomas Rd on the west, this 226 +/- acre tract provides some good grazing opportunities. The terrain is rolling to rough, and there is a large draw that drains to the north toward the North Fork of the Red River. This tract has mostly loam soils and native grasses with approximately 40 acres of Bluestem grass.
Mostly loam soils make up this 145 +/- acre tract. This native grassland is expired CRP land. Approximately 92 acres have been plowed. It is fenced on the north, west, and east sides and has a cross fence between the expired CRP and the native grass. There is a small dirt tank in the northwest corner of the tract. FM 293 runs along the north side of this tract.
This 160 +/- acre tract is all cultivated dryland with loam soils. It is fenced on the east, west, and south sides. FM 293 runs along the east side of this tract.
There are approximately 15 acres in this homestead tract along FM 293. It is a level tract with Bluestem grass. There is a domestic well at the house. The 1,560 sq. ft. (Gray CAD), three bedroom, one bath frame house was built in 1950, and it has central heat and air. The HVAC unit is approximately five years old. There is also a 1,008 sq. ft. (Gray CAD) three car detached garage, also built in 1950. Other outbuildings include a 40’ x 60’ old wood frame barn with concrete floor and an attached enclosed shed and another old barn. Open House on this Tract Thursday, November 4th 11:30 am - 1:30 pm.