Silhan New Mexico – Texas Multi-tract Auction

FARMING, RANCHING AND
CONSERVATION TRACTS ON NEW MEXICO AND TEXAS HIGH PLAINS
2518+/- ACRES (9 TRACTS)
LOCATED IN LAMB AND PARMER COUNTY, TEXAS AND ROOSEVELT
COUNTY, NEW MEXICO

LIVE AUCTION DATE/TIME:

• Live
  Bidding begins on February 11th, at 10:00am Mountain Standard Time

AUCTION LOCATION:  Creighton’s Meeting Room, 1704 S. Ave D,
Portales NM 88130

PROPERTY LOCATION: Multiple
farms located in Lamb and Parmer County, Texas and Roosevelt County, New
Mexico.  See Map Link for tract
locations.

LEGAL DESCRIPTIONS: All
legal descriptions are outlined in the Property Information Packets, under the
Title Commitments and on Exhibit A.

MAP LINK: Silhan NM-TX Multi-tract Auction Map

PROPERTY INFORMATION PACKET (PIP) LINK:

SELLER’S CONFIRMATION: The property is being offered in a Public Auction, this is a reserve auction with all bids being subject to final approval and acceptance by Seller.

Auction Bidding Registration: Auction bidder hereby acknowledges that they must be properly registered for the auction by completing and signing the Auction Bidders Agreement, which will be sent by email via DocuSign or from the Broker/Auctioneer upon request. Upon completing this registration form and receiving approval, bidding privileges will be granted. If you need assistance with registration, you may contact Monty Edwards at (806)786-5426 or Scott Burton at (575) 760-8088 or by email at Monty@MEdwardsAuction.com or Scott@sburtonrealty.com. Seller(s) may at their sole discretion request additional registration requirements from any bidder unknown to them or the auction company.

METHOD OF AUCTION: Live
Public bidding beginning on the date, time, and location stated
above.  The auction will be conducted using a Round Robin,
Multi-Round Single Tract Format. All 9 tracts will be offered individually,
one at a time.  Bidding will be accepted
on each tract during the first round, but no tract will be declared sold until
all rounds are complete.  After the first
round of the bidding is finished, the auction will reopen, allowing bidders to
return to any property and increase their bids.   Rounds will continue until no further
advances are made.  All properties
will be sold individually – no combination or group bidding.  This format is designed to ensure every
bidder has a fair opportunity to raise their offer and secure the property they
want.

PROPERTY
INSPECTION: The property can be previewed by contacting the auction
company at (806) 686-6371 (Texas Properties) or (575) 760-8088 (New
Mexico Properties) or the Auctioneer(s) directly at (806) 786-5426
(Monty, Texas) or (575) 760-8088 (Scott, New Mexico). Buyer agrees
to indemnify, defend and hold harmless property owner from any damages
resulting from Buyer’s preview of the property. Property previews are
encouraged prior to placing a bid in the auction. There may be cattle in the
pasture, so please keep all the gates closed while inspecting. Please do not
drive in tall grass to avoid fire hazards. Direct all questions to the auction
company.

All announcements made Auction Day supersede any prior oral or written statements. The Seller reserves the right to announce additional Terms and Conditions of the sale prior to or during the Auction.The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final.

TEXAS BROKER/AUCTIONEER: Monty Edwards, Broker of Record (TX#515752), United Country Real Estate- M Edwards Realty & Auction, Brokerage of Record (TX#9002391), Monty Edwards, Auctioneer (TX#18341).

New Mexico Qualified Broker/Auctioneer: Scott Burton, Broker of Record (REC-2024-0793), United Country Real Estate, Burton Realty & Auction

GENERAL
DESCRIPTION:  This
Auction offers bidders a diverse set of tracts including two Texas tracts in
Lamb and Parmer County and seven New Mexico tracts in Roosevelt County.  With most of the tracts having farming and
ranching possibilities along with a fair amount of the tracts also providing
options for hunting, recreation and conservation, this is a well-rounded
offering.

TRACT DESCRIPTIONS: 2518+/-
acres offered in (9 TRACTS) with tracts 1, more specifically described as
follows:

TRACT
1: 320
+/- deeded acres in Lamb County, Texas. The soil composition is primarily
comprised of Olton loam, 0 to 1 percent slopes, also with substantial acreage
of Amarillo fine sandy loam, 0 to 1 percent slopes, and  Amarillo fine sandy loam, 1 to 3 percent
slopes, with some minor areas of Veal fine sandy loam, 1 to 3 percent slopes
and low lying area of Randall clay, 0 to 1 percent slopes, occasionally ponded.
There are some older irrigation wells on this property, but they are not
currently in use.  This farm has good
access with maintained county roads on the west (CR 129), south (CR 54), and east
(CR 139) boundaries.  Farm is currently
enrolled in Conservation Reserve Program on two different contracts.  The CRP contracts are available in the
property information packet for review prior to bidding.

TRACT 2: 160 +/-
deeded acres. The soil composition is dominated by Olton clay loam, 0 to 1
percent slopes with considerable amount of Pullman clay loam, 0 to 1 percent
slopes as well.  Topography of farm is
fairly flat with SW corner of farm being the highest point gently sloping to
the NE corner.  There was at one time a
radio transmission tower that was in the SW corner of the property and there is
still the remnants of an old shed that was related to that. There is good
access to the farm with maintained county roads on the north (CR K1) and west
(CR 10) property boundaries. Farm is currently enrolled in Conservation Reserve
Program.  The CRP Contract is available
in the property information packet for review prior to bidding.

TRACT 3: 158.136 +/-
deeded acres. The soil composition is comprised of primarily of Midessa fine
sandy loam, 0 to 1 percent slopes, Amarillo loamy fine sand, 0 to 3 percent
slopes, Potter soils, 3 to 20 percent slopes, Arvana fine sandy loam, 0 to 1
percent slopes, Portales very fine sandy loam, 1 to 3 percent slopes with minor
areas of Posey fine sandy loam, 0 to 1 percent slopes, Portales very fine sandy
loam, 0 to 1 percent slopes, Drake soils, 1 to 8 percent slopes, and Kimberson
and Stohman soils, 0 to 5 percent slopes.

TRACT
4: 159.570 +/- deeded acres.  The soil composition of this tract is mostly Amarillo
loamy fine sand, 0 to 3 percent slopes, with minor amounts of Arvana loamy fine
sand, 1 to 5 percent slopes, Arvana fine sandy loam, 0 to 1 percent slopes, and
Midessa fine sandy loam, 0 to 1 percent slopes.

TRACT 5: 54.00 +/-
deeded acres. The soil is primarily comprised of Arvana fine sandy loam, 0 to 1
percent slopes and Amarillo fine sandy loam, 0 to 1 percent slopes with smaller
areas of Amarillo loamy fine sand, 0 to 3 percent slopes.

TRACT
6:  478.880 +/- deeded
acres. The soil is primarily comprised of Amarose fine sandy loam, 1 to 3 percent
slopes, Amarose loamy fine sand, 0 to 3 percent slopes, Ratliff fine sandy
loam, 0 to 3 percent slopes, Amarose fine sandy loam, 0 to 1 percent slopes, with
some areas also comprised of Elida fine sand, 1 to 5 percent slopes, and Delphos
loamy fine sand, 0 to 3 percent slopes.

TRACT
7:  320.00 +/- deeded acres. The dominant soil
types on this tract are Amarillo loamy fine sand, 0 to 3 percent slopes and Arvana
fine sandy loam, 0 to 1 percent slopes with other areas have soil compositions
of Acuff very fine sandy loam, 0 to 1 percent slopes, Arvana loamy fine sand, 1
to 5 percent slopes and Sharvana fine sandy loam, 0 to 3 percent slopes.

TRACT
8:  240.00 +/- deeded acres. The dominant soil
type on this tract is Amarillo loamy fine sand, 0 to 3 percent slopes with
other soil types of Gomez loamy fine sand, 0 to 3 percent slopes, and Amarillo
fine sandy loam, 0 to 1 percent slopes.

TRACT
9:  627.560 +/- deeded acres. The soil composition
is chiefly Amarillo fine sandy loam, 0 to 1 percent slopes and Midessa fine
sandy loam, 0 to 1 percent slopes with minor amounts of Posey fine sandy loam,
1 to 3 percent slopes and Amarillo fine sandy loam, 1 to 3 percent slopes.

FSA INFORMATION:  All FSA information is provided as a courtesy
from the Lamb County, Parmer County, Texas Farm Service Agency and Roosevelt
County, New Mexico Farm Service Agency. To view (or download) the FSA info and
the 156EZ reports on each farm, go to the auction website or review material in
the Property Information Packet.

SURVEY: In the event any purchased
tract requires a survey to determine the legal description for title insurance,
the cost of the survey will be paid by the seller.  Any additional survey desired by the buyer
will be at the buyer’s sole discretion and cost. In the event said survey
identifies a variance between the advertised and surveyed acres, the purchase
price will be adjusted on a per acre basis.

POSSESSION: Possession of the properties shall be given upon payment in full of the
purchase price and transfer of title at closing, with exception indicated on Exhibit A by tract.

TAXES: The
current year’s taxes will be prorated to the day of closing.  All previous year’s taxes will be paid by
Seller.

MINERALS AND OTHER TITLE RESERVATIONS
AND/OR SPECIAL PROVISIONS: Attached
hereto as Exhibit(s) E, are materials specifically related to reservations or
special provisions that will be a part of the purchase contract to be executed
in compliance with Section 8 of the Auction Bidders Agreement.  Buyer acknowledges receipt of such Exhibits
and specifically consents to the inclusion of such reservations and special
provisions in the purchase contract.

PERSONAL PROPERTY: Any
livestock or farm equipment, hunting equipment, and personal property currently
located on the farm does not sell and may be removed prior to closing and
possession. The irrigation systems (well equipment, pumps, pivots) outlined
above in the tract descriptions will remain with the property it is situated
on. 

AUCTIONEERS
NOTE: This unique offering brought by the Silhan family boasts a
variety of locations and types of uses. Most of this land has not been on the
market for decades.  With good soil and
gentle topography, these farms should be well suited for a variety of uses.  While it is getting harder to find decent
size tracts of land, this auction will afford folks the opportunity to buy some
decent size tracts with good accessibility, while also offering some single
average to smaller tracts as well.  Be
sure to contact Monty Edwards in Texas, (806)786-5246 and Scott Burton in New
Mexico, (575)760-8088 to get more information or schedule a property preview. 

SELLER:
The
Charley Silhan Revocable Trust