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Alva State Bank and Trust Auction
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Thursday, October 18, 2007 - 10:00 A.M.
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SELLER: |
Alva State Bank and Trust |
| SALE LOCATION: |
412 Main Street, Aline, OK (Senior Citizens’ Building) |
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| Tract #1: |
Legal Description - Southwest Quarter (SW ¼) of Section Ten (10) , Township Twenty-three (North (T23N), Range Thirteen (13), W.I.M., Woods County Oklahoma. (160 M or L acres).
Property Description - This quarter section is fenced on three sides (no fence on north end) and has cropland fenced separate from grassland. It also has a water well /18 ft., water tank. The cropland lies toward the north end of the property and has a grove of trees running along the south and west sides. This farm has 69.2 acres of cropland/a 68.9 acre base and a yield of 33 bu. Selling surface only.
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| Tract #2: |
Legal Description - The West Half (W ½) of the Northwest Quarter (NW ¼) of Section Fifteen (15), Township Twenty-three North (T23N), Range Thirteen (13), W.I.M., Woods County, Oklahoma. (80 M or L acres).
Property Description - This farm has 29.4 acres of cropland and carries a 29.3 acre base/a 33 bu., yield. This 80 acre (M or L) farm has a pond long the west side of the grass pasture and 4 and 5 wire fences/cropland fenced separate. Selling surface only.
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| Tract #3: |
Legal Description - The Northwest Quarter (NW ¼) of Section Thirty-One (31), Township Twenty-Four North (T24N), Range Twelve (12) W.I.M., Alfalfa County, Oklahoma, less and except a tract of land beginning at the Northwest Corner of the NW/4 of Section 31, thence East 831.90 feet; thence South 836.18 feet; thence West 831.90 feet; thence North 836.18 feet to the point of beginning.
Property Description - This farm has approximately 133.5 acres (M or L) and has 122.8 base acres/a 33 bu., Base. Selling surface only.
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| Tract #4: |
Legal Description - The Southeast Quarter (SE ¼) of Section Five (5), Township Twenty-Three North (T23N), Range Twelve (12) W.I.M., Alfalfa County, Oklahoma, less and except beginning at the Southeast corner of said Section 5; thence West (N89°24’00’’W) a distance of 831.90 feet; thence North (N00°36’00’’E) a distance of 836.18 feet; thence East (S89°24’00’’E) a distance of 831.90 feet; thence South (S00°36’00’’W) a distance of 836.18 feet, to the point of beginning.
Property Description - This farm contains approximately 144 acres (M or L) and has a 104.7 acre base/a 33 bu., base, with the balance in grass along the east side of this short quarter section and is watered by a pond on the east side of the property. Selling surface only.
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| Tract #5: |
Legal Description - The Northeast Quarter (NE¼) of Section Eight (8), Township Twenty-Three North (T23N), Range Twelve (12) W.I.M., Alfalfa County, Oklahoma.
Property Description - This farm contains approximately 160 acres (M or L). This tract shows to have 69.2 acres of cropland/ a 68.9 acres base and a yield of 33 bu. Selling surface only.
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| Minerals #1: |
Southwest Quarter (SW ¼) of Section Ten (10), Township Twenty-three North (T23N), Range Thirteen (13), W.I.M., and The West Half (W ½) of the Northwest Quarter (NW ¼) of Section Fifteen (15), Township Twenty-three North (T23N), Range Thirteen (13), W.I.M., Woods County, Oklahoma.
Seller believes it owns approximately 120 acres which has production and is in the Oakdale Red Fork unit. Buyers must satisfy themselves as to the ownership interests of the Sellars. Total income from August 26, 2006 thru June 27, 2007, was $13,572.68. Income received from Encore Operating LP. Seller will be quit claiming their ownership interest (no warranty) as to both quantity and quality of their interest.
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| Minerals #2: |
The Southeast Quarter (SE ¼) of Section Five (5), Township Twenty-Three North (T23N), Range Twelve (12) W.I.M., Alfalfa, County, Oklahoma, less and except beginning at the southeast corner of said Section 5, thence West (N89°24’00’’W) a distance of 831.90 feet, thence North (N00°36’00’’E) a distance of 836.18 feet, thence East (S89°24’00’’E) a distance of 831.90 feet, thence South (S00°36’00’’W) a distance of 836.18 feet to the point of beginning.
Seller believes to own approximately 144 acres (M or L) which had production of $1,032.40 from August 14, 2006 thru July 6, 2007. Income received from Scoggins Production Company. Buyers must satisfy themselves as to the ownership interests of the Sellers. Seller will be quit claiming their ownership interest (no warranty) as to both the quantity and quality of their interest.
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| Minerals #3: |
The Northeast Quarter (NE ¼) of Section Eight (8), Township Twenty-Three North (T23N), Range Twelve (12) W.I.M., Alfalfa County, Oklahoma.
Seller believes it owns approximately 160 acres (M or L) with no mineral income. Buyers must satisfy themselves as to the ownership interests of the Sellers. Seller will be quit claiming their ownership interest (no warranty) as to both the quantity and quality of their interest.
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| Minerals #4: |
The Southeast Quarter (SE ¼) of Section Nine (9), Township Twenty-Three North (T23N), Range Thirteen (13) W.I.M., Woods County, Oklahoma.
Seller believes it owns approximately 160 acres (M or L) which has production and receives income from Samson Resources Company and Latigo Oil and Gas, Inc. Buyers must satisfy themselves as to the ownership interests of the Sellers. There was an income of $1,897.40 from August 28, 2006 thru June 27, 2007, from Samson Resources Company and an income of $1,617.29 from August 2, 2006 thru July 6, 2007 from Latigo Oil and Gas, Inc. Seller will be quit claiming their title as to the quantity and warranting their title as to quality of their ownership interest.
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| Minerals #5: |
The Northwest Quarter (NW ¼) of Section Thirty-One (31), Township Twenty-Four North (T24N), Range Twelve (12) W.I.M., Alfalfa County, Oklahoma, less and except a tract of land beginning at the Northwest Corner of the NW/4 of Section 31, thence East 831.90 feet; thence South 836.18 feet; thence West 831.90 feet; thence North 836.18 feet to the point of beginning.
Seller believes it owns approximately 66.75 acres (M or L) and had a production income of $9,284.82 from August 6,2006 thru July 6, 2007, received from Chesapeake Energy. Buyers must satisfy themselves as to the ownership interests of the Sellers. Seller will be quit claiming their title as to the quantity and warranting their title as to quality of their ownership interest.
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TERMS AND CONDITIONS: |
TERMS ON SURFACE ACRES: Ten percent (10%) down upon signing of contract to be held in escrow at Woods County Abstract, Alva, Oklahoma, and balance due upon approval of abstract showing merchantable title.
TERMS ON MINERAL ACRES: Ten percent (10%) down upon signing of contract to be held in escrow at Woods County Abstract, Alva, Oklahoma.
Buyers must execute Seller’s Real Estate Contract, a copy of which will be available for inspection prior to auction. NOTE: Purchasers of minerals listed above at #1, #2, #3, will be provided a quit claim mineral deed as to both the quality and quantity of Seller’s ownership interest. Minerals listed above as #4, #5, will be warranted as to the quality (Subject to Seller’s Real Estate Contract), and quit claimed as to the quantity. Remaining balance due upon approval of such deeds. Abstracts will not be provided.
TAXES: Prorated to day of closing. Tract I taxes for 2006 were $166.18. Tract II taxes for 2006 were $80.96. Tract III taxes for 2006 were $347.78. Tract IV taxes for 2006 were $376.58. Tract V taxes for 2006 were $294.30.
POSSESSION: Buyer will be given possession upon closing.
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AUCTIONEER'S NOTE: |
Here is an opportunity to purchase some real estate in Woods and Alfalfa Counties as well as minerals. Some tracts are good for hunting, cattle grazing and farming. If you are an investor, do not miss this opportunity to purchase property and/or minerals.
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Licensed Staff:
| Kevin Thiesing - Broker/Auctioneer |
| Kenny Rockenbach - Broker Associate/Auctioneer |
| Bob Rockenbach, Broker Assoc./Auctioneer |
| Randy Lancaster - Associate/Ringman |
| Jack Staats - Auctioneer/Ringman |
| Tim Ohm -Auctioneer/ Ringman |
| Jana Thiesing, Kassy Thiesing, & Kaylee Ohm - Cashiers |
| Loni Staats & Jeanie Lancaster - Clerks |
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