Distinctive Property Auction Details

510+/- Ac, Nowata, OK 74048
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510+/- ac, Nowata, OK 74048
Auctioned: 4:30 PM Thursday, May 21, 2009
510+/- ac, Nowata, OK 74048
206610 00-1247--TW/05-2009

SELLS WITHOUT RESERVE

510+/-ac in 5 parcels with prime opportunities for livestock, ranchettes and investment. Property is north of Tulsa near Lake Oologah and Nowata, close to all amenities of Lake Oologah and Nowata including fishing, boating restaurants and shopping.
Property ID:206610

Auctioned: 4:30 PM Thursday, May 21, 2009

Directions: From Tulsa: N on 169 through Oologah, Talala to 28Rd, E 2.5 mi to property


Details: Parcels ranging from 40+/-ac to 180+/-ac of rolling pasture including a barn and working pens located on Parcel 5, as well as scenic land with partial views of the lake on other parcels. Each parcel has county road frontage. Property features cross fencing and multiple ponds throughout. Nowata is 7 miles to the north with restaurants, medical and retail facilities.

Acreages:
Parcel 1: 40+/-ac
Parcel 2: 40+/-ac
Parcel 3: 90+/-ac
Parcel 4: 160+/-ac
Parcel 5: 180+/-ac

Utilities:
Electric: Verdigris Valley Electric
Water: Rural Water District #6
Sewer: Septic
Gas: Propane

School:
Nowata Public Schools

Disclosures:
• Survey fee $1000 per parcel
• Minerals owned by seller will convey with property(some production in '08)
• Buyer and Seller understand that the mineral/royalty interest owned by the Seller and associated with the surface estate of this acreage is being transferred with this real estate purchase to the Buyer. Buyer has reviewed the Lease and Exhibits and has performed all due diligence prior to bidding. Copy of Oil and Gas Lease available by calling 918.630.9202.

Legal Description: Parcel ____________________See Attached Legal


Auctioned: 4:30 PM Thursday, May 21, 2009
Terms of Sale: Registration at the auction finalizes each bidder's agreement to the terms and conditions of sale as stated in the Contract and its Addenda which are incorporated by reference into your bidding. DO NOT BID unless you have registered and received a Bidder's Card and Sale Day Notes and agreed to be bound by the terms of sale in the Contract as they are final upon you becoming a high bidder.

All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale. Williams & Williams represents the Sellers only and does not inspect properties on bidder's behalf. Do not bid if you have not inspected the property(s). By bidding you agree to all disclosures.

Buyers receive a deed and Title Insurance Policy as provided by the Closer indicated in the Contract (any mobile/manufactured housing on the property will only be conveyed by a Hold Harmless Agreement or Quit Claim Bill of Sale unless otherwise noted in Disclosures). Current year's taxes are pro-rated through day of closing as customary.


Each high bidder must make a 10% ($5,000 MINIMUM - whichever is greater) non-refundable deposit per property immediately following auction. Cash, cashier's checks, and personal checks (electronically processed) are accepted. The balance of the purchase price and all closing costs are due within 30 days. Closing costs generally total approximately $1,500 and include, but are not limited to, title exam, title policy, closing fee and filing costs.

A "QUICK CLOSE" option if available (see Disclosures or listen day of sale) allows Buyers to save all title/closing costs (per above, approximately $1,500). To qualify, buyer must pay the purchase price plus any other non-title fees in full day of sale.

Bidding starts at the nominal Opening Bid(s) indicated and is open to the public. The Auctioneer will call the sale and control any increments of bidding. To make a bid, raise your hand or Bid Card to be recognized. The Auctioneer is the sole arbiter and controller of the conduct of the auction and shall be the final and absolute authority without liability to any party.

Do not inspect properties and/or attend an auction except at your own risk. Broker and Seller, their agents and employees, expressly disclaim any "invitee" relationship and shall not be liable to any person for damages to their person or property while in, on or about these properties, nor shall they be liable for hidden defects, dangers or conditions. All persons shall be on the premises at their own risk and shall defend, indemnify, and save harmless Broker and Seller from any and all liability attendant thereto.

All auctions are subject to court or seller approval. Most sales are approved within 7 business days. Buyers are not allowed possession until filing of the deed, at which time the property should be re-keyed.

If more than one property, the Auctioneer may choose to offer a group of the properties for auction at the same time. The price being called for and bid is for any one property only. This is called "BUYER'S CHOICE" and is to accommodate buyers who have an interest in more than one property and/or have 2nd and 3rd choices if they are out bid for a favorite property. Upon winning the bid, please choose which property, or properties, you want. You pay the high bid price for each property selected. Each sale is final and stands alone. Remaining properties are then offered in another round of bidding. 2nd high bidders do not win a right to choose. Anyone may bid at any time, including prior High Bidders.
Williams & Williams and the Seller expressly disclaim any liability for errors, omissions or changes regarding any information provided for these sales. Potential purchasers are strongly urged to rely solely upon their own inspections and opinions in preparing to purchase property and are expressly advised to not rely on any representations made by the seller or their agents. Property information may change without notice and potential purchasers should investigate all data fully before relying upon it.

Legal Description: Parcel ____________________See Attached Legal





For questions about this auction,
please contact

Gloria Gilleland
918-217-6472
918-217-6421 fax

Williams & Williams
7140 S. Lewis Ave Ste 200
Tulsa, OK 74136
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