sealed bid auction package
SEALED BID AUCTION PACKAGE (WILLIAMS FORK MOUNTAIN RANCH)
SEALED BID SUMMARY: Peabody Energy , herein referred to as (“Seller”), has retained Mason Morse Ranch Company, herein referred to as (“Auctioneer”), to offer for sale an 15,000 acre (+/-) ranch, known as Williams Fork Mountain Ranch. The subject property is located in _______________ Co, Colorado. The subject property is herein referred to as (“Property”). AUTHORIZED SEALED BID FORM: All sealed bids which are submitted must be submitted on the required (Bid Submission Form), which is included below. The Sealed Bid Packet and Bid Submission Form are also available on the Auctioneer’s website at www.ranchland.com as a PDF form. Any sealed bids received which are not submitted on the proper Bid Submission Form or which are not fully completed or without the required bid deposit, may be rejected by the Seller at their sole discretion. IRREVOCALBE SEALED BID: Any bidder which submits a sealed bid understands and agrees that the integrity of the auction requires that the Bidder’s Sealed Bid be an irrevocable offer to purchase the subject property throughout the term of the auction for the amount of the sealed bid. SUBMISSION & DELIVERY: Once the Bid Submission Form is fully completed and executed, it should be placed in a sealed envelope and labeled clearly on the outside of the envelope: WILLIAMS FORK MOUNTAIN RANCH SEALED BID. Bids must be in writing for each individual tract (if applicable) or for the entire property at the discretion of the bidder. All sealed bids must be received prior to the following deadline at the address noted below. Any and all Bid Submission Forms should be completed and signed by a person authorized to commit to the purchase the property in the amount of the submitted bid. Any corporations or entities submitting a sealed bid must furnish evidence that the officer(s) or employee(s) who executed the offer has been given the power to act on behalf of the corporation. BID DEPOSIT: All Bid Submission Forms MUST be accompanied by a Bid Deposit in the amount of ($100,000), and received in certified funds. For convenience, the Bid Deposit may also be wired transferred to Land Title Guarantee Company at 721 Oak St # 100, Steamboat Springs, CO 80487. In the event a bid is accepted, the bid deposit shall be applied towards the 10% escrow deposit required in the purchase sales agreement. If a bid is not approved or accepted, the bid deposit shall be returned to the bidding in a timely manner. All dollar amounts referred to and/or contained in this auction are in U.S. dollars. BIDDER FINANCIAL INFORMATION: Bidder agrees to include with the signed Bid Submission Form, a letter detailing how Bidder intends to fund the sealed bid they are submitting for the property. The information must be satisfactory to the Seller and the Auctioneer to establish the bidder’s ability to participate in the auction. Seller reserves the right to waive this requirement for any person or entity which the Seller is familiar with and is comfortable with their ability to perform.
Sealed Bid Process (Williams Fork Mountain Ranch)
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BIDDING DEADLINE (PHASE I): All completed Bid Submission Forms must be received on or by 5:00pm (CST), Tuesday, September 1st, 2015 and delivered to: Mason & Morse Ranch Company Attention: Kay Muller 1614 Grand Avenue Suite C Glenwood Springs, CO 81601 Re: WILLIAMS FORK MOUNTAIN RANCH SEALED BID It is the bidder’s sole responsibility to ensure that their Bid Submission Form and bid deposit are received prior to 5:00pm (MDT), Tuesday, September 1st, 2015, at the addresses above. REVIEW BIDS/OFFERS (PHASE I): All bids/offers will be reviewed by Auctioneer and Seller for the subject property by Friday, September 4th, 2015. At that time the Auctioneer shall notify bidders of their bidding status (bid accepted, approved to participate in Phase II or non-acceptance of bid). Seller reserves the right to accept or reject any bid/offer, to waive any technicalities and defects in an Bid Submission Form, to re-advertise the property, to request a second round (Phase II) of bidding and/or withdraw the property from sale at any time. PHASE II (if applicable): In the event the Seller approves the bids received in Phase I, and elects to move forward with Phase II of the sealed bid process, it shall consist of a private round of bidding to the top chosen percentage of approved bidders from Phase I. Bidders from Phase I will be notified of their bidding status and eligibility to participate in the Phase II process. The Phase II bidding round shall be considered a Best and Final Offer, and may be conducted by either another round of sealed bids or in a live open outcry auction format, at the Sellers sole discretion. BIDDER PARTICIPATION: By submitting a sealed bid offer to purchase the subject property in Phase I, Bidder agrees to participate and be bound by the same terms and conditions in Phase II bidding (if applicable) in the event they are selected by the Seller to move forward. AWARD OF CONTRACT: At the conclusion of the bidding process, Phase I and/or Phase II (if applicable), Auctioneer and Seller may award the sale of the property to the highest bidder with a completed Sealed Bid Submission Form. In the event of a tie bid, the Auctioneer and Seller will ask the tied bidders to submit a final and best offer to break the tie bid. Upon conclusion of the bidding process, Phase I and/or Phase II (if applicable), Auctioneer will notify the successful bidder(s) that his/her bid(s) are accepted. The winning bidder shall immediately upon notification of winning the auction, be required to execute and return the Purchase Agreement with the balance of ten percent (10%) escrow deposit check, made payable to the escrow agent: Land Title Guarantee Company at 721 Oak St # 100, Steamboat Springs, CO 80487. BIDDING ELIGIBILITY: All persons submitting a sealed bid must be at least 18 years of age or older and have full authority to bid on the property either as solely or as a representative of the bidding entity. Anyone submitting a bid acknowledges they are making a legal and binding offer to purchase the subject property either in part or in whole and agree to be bound by the Terms and Conditions as set herein.
Sealed Bid Process (Williams Fork Mountain Ranch)
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INDEMNIFICATION: Any and all bidders submitting a bid/offer agrees for and on behalf of him/herself, his/her heirs, successors and assigns that he/she shall indemnify and hold the Auctioneer and Seller harmless from and against any claim, demand or cause of action arising or alleged to have arisen out of the sale or failure to sell the property including claims for personal or bodily injury, death or contract damages. The Auctioneer and Seller shall not indemnify the Buyer or offering Bidders. MODIFICATIONS: The Terms and Conditions and provisions herein are subject to change at the sole discretion of the Auctioneer and Seller.
TERMS AND CONDITIONS of AUCTION All bidders and participants of this sale agree that they have read and fully understand these terms and agree to be bound by the terms and conditions contained herein. SEALED BID SUBMISSION FORM: Sealed bids MUST be properly completed and submitted on the required “Sealed Bid Submission Form” which is attached. By submitting a bid, each bidder is agreeing to all Terms and Conditions of the sale. Bids not submitted on a properly and fully completed (and signed) Sealed Bid Submission Form may be rejected by Auctioneer and Seller at its sole discretion. All bids received during (Phase I) must be accompanied with a bid deposit of ($100,000) in certified funds or wire transfer to Land Title Guarantee Company, 721 Oak St # 100, Steamboat Springs, CO 80487.. The winning bidder’s bid deposit will be applied towards the required (10%) escrow deposit. All other bid deposits will be returned to bidders within 48 hours after end of auction. ACCEPTANCE OF WINNING BID PRICE: The successful bidder(s) will be required to enter into a Purchase Sale Agreement (“Purchase Sale Agreement”) after acceptance of a bid/offer which is attached hereto. The successful bidder shall immediately after notification of their accepted bid/offer execute and return the Purchase Sale Agreement with the balance of the (10%) Escrow Deposit. The purchase Sale Agreement shall be delivered to the Auctioneer: Mason Morse Ranch Company, attention Kay Muller, 1614 Grand Avenue, Suite C, Glenwood Springs, CO 81601. The balance of the Escrow Deposit shall be delivered (wire transfer or certified funds) to Land Title Guarantee Company, 721 Oak St # 100, Steamboat Springs, CO 80487. ESCROW DEPOSIT: A deposit of Ten Percent (10%) of the Total Contract Price will be required to be sent in with the executed Conditional Sales Agreement. The deposit check should be made payable to (escrow company) and may be a personal or business check. BUYER’S PREMIUM: A Three Percent (3%) “Buyer’s Premium” will be added to the high bid price to determine the TOTAL CONTRACT PRICE (High Bid + Buyer’s Premium = Total Contract Price) FINANCING & LOCAL APPROVALS: The auction sale is not contingent on the buyer(s) ability to obtain financing or local approvals.
Sealed Bid Process (Williams Fork Mountain Ranch)
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INSPECTION OF PROPERTY: Anyone interested in the subject property is invited and encouraged to thoroughly inspect the property prior to submitting a sealed bid offer. The property is being sold on an “AS IS, WHERE IS” basis. No warranties or representations either express or implied, concerning the property is made by the Seller or the Auction Company. Interested purchasers are strongly encouraged to perform their due diligence prior to submitting a bid for the property. INSPECTION PERIODS: Private tours of the property can be arranged by contacting the auctioneer. The Tour dates are scheduled on July 10th and 11th, and August 7th and 8th. Tours will run from 9:00am to 12:00pm and 3pm to 6:00pm each day. Private tours may be arranged by contacting auctioneer. POSSESSION: Possession of the property will be transferred at closing by Warranty Deed. TITLE INSURANCE & CLOSING FEE: Seller shall provide the Buyer with a commitment for title insurance showing merchantable title in the Seller. The cost of title insurance shall be split equally between seller and buyer. BROKER PARTICIPATION: A One Percent (1%) Buyer’s Broker Commission based on the High Bid will be paid to any properly licensed real estate broker whose Bidder successfully purchases and closes on the subject Property. The Buyer’s Broker must complete the Buyer’s Broker Registration Form and return it to Auctioneer no later than 48 hours prior to the bid submission deadline, which is T u e s d a y , S e p t e m b e r 1 s t , 2 0 1 5 , a t 5:00pm (MST). A copy of the Buyer’s Broker Registration Form is available at www.RanchLand.com or by contacting the Auctioneer at (970) 928‐7100, Mason Morse Ranch Company. ALTERATIONS AND MODIFICATIONS: The Terms and Conditions contained herein are subject to change without notice. Please print, sign and deliver a copy of the Terms and Conditions with the Bid Submission Form.
_________________________________________________________ BIDDER DATE _________________________________________________________ BIDDER DATE
Sealed Bid Process (Williams Fork Mountain Ranch)
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SEALED BID SUMMARY: Peabody Energy , herein referred to as (“Seller”), has retained Mason Morse Ranch Company, herein referred to as (“Auctioneer”), to offer for sale an 15,000 acre (+/-) ranch, known as Williams Fork Mountain Ranch. The subject property is located in _______________ Co, Colorado. The subject property is herein referred to as (“Property”). AUTHORIZED SEALED BID FORM: All sealed bids which are submitted must be submitted on the required (Bid Submission Form), which is included below. The Sealed Bid Packet and Bid Submission Form are also available on the Auctioneer’s website at www.ranchland.com as a PDF form. Any sealed bids received which are not submitted on the proper Bid Submission Form or which are not fully completed or without the required bid deposit, may be rejected by the Seller at their sole discretion. IRREVOCALBE SEALED BID: Any bidder which submits a sealed bid understands and agrees that the integrity of the auction requires that the Bidder’s Sealed Bid be an irrevocable offer to purchase the subject property throughout the term of the auction for the amount of the sealed bid. SUBMISSION & DELIVERY: Once the Bid Submission Form is fully completed and executed, it should be placed in a sealed envelope and labeled clearly on the outside of the envelope: WILLIAMS FORK MOUNTAIN RANCH SEALED BID. Bids must be in writing for each individual tract (if applicable) or for the entire property at the discretion of the bidder. All sealed bids must be received prior to the following deadline at the address noted below. Any and all Bid Submission Forms should be completed and signed by a person authorized to commit to the purchase the property in the amount of the submitted bid. Any corporations or entities submitting a sealed bid must furnish evidence that the officer(s) or employee(s) who executed the offer has been given the power to act on behalf of the corporation. BID DEPOSIT: All Bid Submission Forms MUST be accompanied by a Bid Deposit in the amount of ($100,000), and received in certified funds. For convenience, the Bid Deposit may also be wired transferred to Land Title Guarantee Company at 721 Oak St # 100, Steamboat Springs, CO 80487. In the event a bid is accepted, the bid deposit shall be applied towards the 10% escrow deposit required in the purchase sales agreement. If a bid is not approved or accepted, the bid deposit shall be returned to the bidding in a timely manner. All dollar amounts referred to and/or contained in this auction are in U.S. dollars. BIDDER FINANCIAL INFORMATION: Bidder agrees to include with the signed Bid Submission Form, a letter detailing how Bidder intends to fund the sealed bid they are submitting for the property. The information must be satisfactory to the Seller and the Auctioneer to establish the bidder’s ability to participate in the auction. Seller reserves the right to waive this requirement for any person or entity which the Seller is familiar with and is comfortable with their ability to perform.
Sealed Bid Process (Williams Fork Mountain Ranch)
Page 1 of 4
BIDDING DEADLINE (PHASE I): All completed Bid Submission Forms must be received on or by 5:00pm (CST), Tuesday, September 1st, 2015 and delivered to: Mason & Morse Ranch Company Attention: Kay Muller 1614 Grand Avenue Suite C Glenwood Springs, CO 81601 Re: WILLIAMS FORK MOUNTAIN RANCH SEALED BID It is the bidder’s sole responsibility to ensure that their Bid Submission Form and bid deposit are received prior to 5:00pm (MDT), Tuesday, September 1st, 2015, at the addresses above. REVIEW BIDS/OFFERS (PHASE I): All bids/offers will be reviewed by Auctioneer and Seller for the subject property by Friday, September 4th, 2015. At that time the Auctioneer shall notify bidders of their bidding status (bid accepted, approved to participate in Phase II or non-acceptance of bid). Seller reserves the right to accept or reject any bid/offer, to waive any technicalities and defects in an Bid Submission Form, to re-advertise the property, to request a second round (Phase II) of bidding and/or withdraw the property from sale at any time. PHASE II (if applicable): In the event the Seller approves the bids received in Phase I, and elects to move forward with Phase II of the sealed bid process, it shall consist of a private round of bidding to the top chosen percentage of approved bidders from Phase I. Bidders from Phase I will be notified of their bidding status and eligibility to participate in the Phase II process. The Phase II bidding round shall be considered a Best and Final Offer, and may be conducted by either another round of sealed bids or in a live open outcry auction format, at the Sellers sole discretion. BIDDER PARTICIPATION: By submitting a sealed bid offer to purchase the subject property in Phase I, Bidder agrees to participate and be bound by the same terms and conditions in Phase II bidding (if applicable) in the event they are selected by the Seller to move forward. AWARD OF CONTRACT: At the conclusion of the bidding process, Phase I and/or Phase II (if applicable), Auctioneer and Seller may award the sale of the property to the highest bidder with a completed Sealed Bid Submission Form. In the event of a tie bid, the Auctioneer and Seller will ask the tied bidders to submit a final and best offer to break the tie bid. Upon conclusion of the bidding process, Phase I and/or Phase II (if applicable), Auctioneer will notify the successful bidder(s) that his/her bid(s) are accepted. The winning bidder shall immediately upon notification of winning the auction, be required to execute and return the Purchase Agreement with the balance of ten percent (10%) escrow deposit check, made payable to the escrow agent: Land Title Guarantee Company at 721 Oak St # 100, Steamboat Springs, CO 80487. BIDDING ELIGIBILITY: All persons submitting a sealed bid must be at least 18 years of age or older and have full authority to bid on the property either as solely or as a representative of the bidding entity. Anyone submitting a bid acknowledges they are making a legal and binding offer to purchase the subject property either in part or in whole and agree to be bound by the Terms and Conditions as set herein.
Sealed Bid Process (Williams Fork Mountain Ranch)
Page 2 of 4
INDEMNIFICATION: Any and all bidders submitting a bid/offer agrees for and on behalf of him/herself, his/her heirs, successors and assigns that he/she shall indemnify and hold the Auctioneer and Seller harmless from and against any claim, demand or cause of action arising or alleged to have arisen out of the sale or failure to sell the property including claims for personal or bodily injury, death or contract damages. The Auctioneer and Seller shall not indemnify the Buyer or offering Bidders. MODIFICATIONS: The Terms and Conditions and provisions herein are subject to change at the sole discretion of the Auctioneer and Seller.
TERMS AND CONDITIONS of AUCTION All bidders and participants of this sale agree that they have read and fully understand these terms and agree to be bound by the terms and conditions contained herein. SEALED BID SUBMISSION FORM: Sealed bids MUST be properly completed and submitted on the required “Sealed Bid Submission Form” which is attached. By submitting a bid, each bidder is agreeing to all Terms and Conditions of the sale. Bids not submitted on a properly and fully completed (and signed) Sealed Bid Submission Form may be rejected by Auctioneer and Seller at its sole discretion. All bids received during (Phase I) must be accompanied with a bid deposit of ($100,000) in certified funds or wire transfer to Land Title Guarantee Company, 721 Oak St # 100, Steamboat Springs, CO 80487.. The winning bidder’s bid deposit will be applied towards the required (10%) escrow deposit. All other bid deposits will be returned to bidders within 48 hours after end of auction. ACCEPTANCE OF WINNING BID PRICE: The successful bidder(s) will be required to enter into a Purchase Sale Agreement (“Purchase Sale Agreement”) after acceptance of a bid/offer which is attached hereto. The successful bidder shall immediately after notification of their accepted bid/offer execute and return the Purchase Sale Agreement with the balance of the (10%) Escrow Deposit. The purchase Sale Agreement shall be delivered to the Auctioneer: Mason Morse Ranch Company, attention Kay Muller, 1614 Grand Avenue, Suite C, Glenwood Springs, CO 81601. The balance of the Escrow Deposit shall be delivered (wire transfer or certified funds) to Land Title Guarantee Company, 721 Oak St # 100, Steamboat Springs, CO 80487. ESCROW DEPOSIT: A deposit of Ten Percent (10%) of the Total Contract Price will be required to be sent in with the executed Conditional Sales Agreement. The deposit check should be made payable to (escrow company) and may be a personal or business check. BUYER’S PREMIUM: A Three Percent (3%) “Buyer’s Premium” will be added to the high bid price to determine the TOTAL CONTRACT PRICE (High Bid + Buyer’s Premium = Total Contract Price) FINANCING & LOCAL APPROVALS: The auction sale is not contingent on the buyer(s) ability to obtain financing or local approvals.
Sealed Bid Process (Williams Fork Mountain Ranch)
Page 3 of 4
INSPECTION OF PROPERTY: Anyone interested in the subject property is invited and encouraged to thoroughly inspect the property prior to submitting a sealed bid offer. The property is being sold on an “AS IS, WHERE IS” basis. No warranties or representations either express or implied, concerning the property is made by the Seller or the Auction Company. Interested purchasers are strongly encouraged to perform their due diligence prior to submitting a bid for the property. INSPECTION PERIODS: Private tours of the property can be arranged by contacting the auctioneer. The Tour dates are scheduled on July 10th and 11th, and August 7th and 8th. Tours will run from 9:00am to 12:00pm and 3pm to 6:00pm each day. Private tours may be arranged by contacting auctioneer. POSSESSION: Possession of the property will be transferred at closing by Warranty Deed. TITLE INSURANCE & CLOSING FEE: Seller shall provide the Buyer with a commitment for title insurance showing merchantable title in the Seller. The cost of title insurance shall be split equally between seller and buyer. BROKER PARTICIPATION: A One Percent (1%) Buyer’s Broker Commission based on the High Bid will be paid to any properly licensed real estate broker whose Bidder successfully purchases and closes on the subject Property. The Buyer’s Broker must complete the Buyer’s Broker Registration Form and return it to Auctioneer no later than 48 hours prior to the bid submission deadline, which is T u e s d a y , S e p t e m b e r 1 s t , 2 0 1 5 , a t 5:00pm (MST). A copy of the Buyer’s Broker Registration Form is available at www.RanchLand.com or by contacting the Auctioneer at (970) 928‐7100, Mason Morse Ranch Company. ALTERATIONS AND MODIFICATIONS: The Terms and Conditions contained herein are subject to change without notice. Please print, sign and deliver a copy of the Terms and Conditions with the Bid Submission Form.
_________________________________________________________ BIDDER DATE _________________________________________________________ BIDDER DATE
Sealed Bid Process (Williams Fork Mountain Ranch)
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