320 +/- Acres | GARFIELD CO. LAND & MINERALS
Springhill Suites by Marriott
5815 KL Drive, Enid, OK 73703
December 2, 2021
| 10:00 A.M.
The Estate of Steven Wayne Hane
Farm #1 (160 +/- Acres)
- Located from the first section line S. of Drummond, 5 ½ miles S. on SH 132
- 95.53 +/- acres of cropland with a 92.30 acre wheat base & a 32 bu./ac. PLC yield
- Balance of land is in grass pasture, scattered trees & timber-lined creek
- Principle soil type of cropland is mostly Lovedale fine sandy loam, Class II, with smaller amounts of Eda loamy fine sand, Class III & Kingfisher-Ironmound complex, Class IV
- Improvements include fences & cross fences, electricity & water well (works, no pump)
- Rural water is available, if desired
- SH 132 frontage along the W. side & access by county road along the S. side
- Legal Description: SW/4 of Sec. 14, Twp. 20N, R8 W.I.M., Garfield Co., OK
- ‘20 Taxes: Were approx. $518.00.
Farm # 2 (160 +/- Acres)
- Located from the first section line S. of Drummond, 5 miles S. on SH 132, then 3 miles E. on Osborne Rd.
- 104.39 +/- acres of cropland with a 101.20 acre wheat base & a 32 bu./ac. PLC yield
- Balance of the land is in thick native timber, timber-lined creek, & an older home site
- Principle soil types of the cropland include Port silt loam, Class II; Grant silt loam, Class II; & Grant silt loam, Class III
- Older home & farm buildings, including a Quonset, & water wells (not used in many years)
- Access is by county road along the N. side
- Legal Description: NW/4 of Sec. 17, Twp. 20 N, R7 W.I.M.
- ‘20 Taxes: Were approx. $571.00
- Seller’s share of minerals in, under, & to the SW/4 of Sec. 14, Twp. 20N, R8 W.I.M., Garfield Co., OK
- 160 +/- NMA
- Production appears to be from the Hane 14-1H w/RI 0.04687500, paid by Chisholm Oil & Gas Operating, LLC of Tulsa, OK
- 2020 1099 reflects net revenue of $6,004.04
- Seller’s share of minerals in, under, & to the NW/4 of 17, Twp. 20 N, R7 W.I.M.
- 160 +/- NMA
- Production appears to be from the Paul Hane 17-1 w/RI 0.12500000, paid by Phillips 66 Company of Bartlesville, OK
- 2020 1099 reflects net revenue of $822.15
Terms for Real Estate
- ‘21 Taxes: Will be prorated to the date of closing.
- Possession: Possession will be given upon signing the purchase contract and acceptance of the escrow deposit for the purpose of tilling the soil as is necessary for conserving moisture and for preparing for and for planting a wheat crop. If for any reason this agreement does not close, the Seller shall pay the Buyer the customary rate as recommended by the O.S.U. Extension Service for any tilling or planting which Buyer may have done, and Buyer shall immediately relinquish possession to Seller and neither party shall be liable to the other for any further damages. Complete possession is to be given upon payment in full of the purchase price and transfer or title, at closing; AND with proper indemnification, Buyer will have permission to hunt the land beginning the day of the auction. If, for any reason, this sale does not close, the Buyer shall immediately relinquish such permission to hunt and neither party shall have any further duty to the other.
- Minerals: Minerals in under and to the above described will be offered separately after the sale of the surface.
Terms for Minerals
- A 10% Buyer’s Premium will be added to the high bid in the auction to determine the purchase price of each tract. 10% of the purchase price is to be placed in escrow the day of the auction with the balance being due upon delivery of merchantable title, at closing. Buyers will have 20 days to examine the county records and satisfy themselves as to the title. Title will transfer by Limited Warranty Deed. All information is taken from sources believed to be reliable; however, no guarantee is made by the auction company or its employer. Buyers should satisfy themselves as to acreage, production, etc. prior to auction day. Any announcements made the day of the auction supersede all advertising.
- Registration: All bidders are required to register with valid form of ID & acknowledge & agree to auction terms & conditions. Absentee bidders who wish to authorize another person to bid/purchase on their behalf, please provide a letter of authorization. Contact the Auction Company for details.
- Terms: 10% of the purchase price is to be placed in escrow day of auction with the balance being due upon delivery of merchantable title. All information is taken from sources believed to be reliable; however, no guarantee is made by the auction company or its employer. Buyers should satisfy themselves as to acreage, size, condition, etc. prior to auction day. Announcements made day of auction take precedence.
Farm 1: $370,000
Farm 2: $383,000
Mineral 1: $79,200
Mineral 2: $81,400