Hemphill/Roger Mills County: Dryland & Producing Minerals Multi-Parcel Auction

ONLINE AUCTION TERMS & CONDITIONS

PROCEDURE:  This 305+/- Acres will be offered in two (2) individual surface tracts.  Included in this auction are 305+/-  Mineral acres that will be offered in two (2) mineral tracts. There will be bidding on all tracts and combinations of tracts until the close of the auction. Online bidding will take place beginning at 10:00 am CST Monday, October 27 and will “soft close” at 12:00 noon CST Tuesday, October 28th.  At 12:00 noon CST on Tuesday, October 28th  bidding will continue in five minute increments until five minutes have passed with no new bids. 

BIDDER QUALIFICATION:  YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing. Potential bidders must be approved to bid online. Go to www.cliftlandauctions.com and CREATE AN ACCOUNT, if you do not currently have an account. Then ENTER the AUCTION and REQUEST APPROVAL to bid.  You must be approved by Clift Land Auctions before you can bid. You must agree to the auction terms and conditions during the registration process.

BUYER’PREMIUM: A five percent (5%) Buyer Premium is in effect on your purchase. 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. The successful bidder will sign a purchase agreement within two(2) hours of the close of the auction. 

DOWN PAYMENT: Ten percent (10%) down payment upon signing a purchase agreement The down payment may be paid in the form of  personal check, business check, cashier’s check, or wire transfer. The remainder of the purchase price is payable in cash at closing. 

REAL ESTATE TAXES AND 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 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 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 December 12, 2025, or as soon as applicable closing documents are completed.

POSSESSION:  Possession will be given at closing and funding.

GROWING CROP: The growing crop on Tract 1 will be harvested before time of closing.

TITLE: (TX) 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. (OK) Seller shall provide an Abstract of Title for the parcel or combination of parcels. 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. 

SURVEY:  No survey will be provided by the Seller.

MINERAL RIGHTS:  100% of the mineral rights and royalties owned by the Sellers will convey in net mineral tracts 3&4. 

AGENCY:  Clift Land Auctions and Clift Land Brokers and its 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 in this brochure 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 completed this due diligence prior to bidding on this auction. Increments of bidding are at the direction and discretion of the auction company. 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. 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, 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.