| Notes: | Absolute Auction
Inspection DatesSaturday, March 13 from 9:00 AM to 10:00 AM CT
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Property DetailsGENERAL INFORMATION | | Total Sale Price: | $26,900.00 | Addresses:
| Tract 1 - 100' X 230' IRR - 8406 Highway 70, Baxter, TN - Sold for $4,100.00
Tract 2 - 100' X 221' IRR - 8388 Highway 70, Baxter, TN - Sold for $4,600.00
Tract 3 - 100' X 212' IRR - 8370 Highway 70, Baxter, TN - Sold for $4,800.00
Tract 4 - 100' X 203' IRR - 8350 Highway 70, Baxter, TN - Sold for $4,800.00
Tract 5 - 180' X 214' IRR - 115 Dyer Ridge Rd, Baxter, TN - Sold for $4,100.00
Tract 9 - 300' X 341' IRR - Dyer Ridge Rd, Putnam County, TN - Sold for $4,500.00 | City:
| Tracts 1-5 are located within the city limits of Baxter, TN. Tract 9 is not.
| County:
| Putnam County, TN
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 LAND INFORMATION | Zoning:
| Tracts 1-5 are zoned R-1 (Low density residential)
| Land Area:
| Tract 1 -- 8406 Highway 70 -- 0.52 +/- Acres
Tract 2 -- 8388 Highway 70 -- 0.50 +/- Acres
Tract 3 -- 8370 Highway 70 -- 0.48 +/- Acres
Tract 4 -- 8350 Highway 70 -- 0.47 +/- Acres
Tract 5 -- 115 Dyer Ridge Rd -- 0.89 +/- Acres
Tract 9 -- Dyer Ridge Rd -- 2.78 +/- Acres
| Subdivision Name:
| Jimmie Thomas Division
| Deed Restrictions:
| Tract 5 is subject to the following restrictions:
1. There will be no modular or mobile homes placed on subject property.
2. The foundation of any structure shall be concealed by brick.
| Easements:
| 1. Portions of a 150' TVA power line easement cross the Northwest corner of Tract 1.
2. A 100' TVA power line easement crosses Tract 9.
3. A 20' sewer easement runs along the road frontage of Tracts 2-5.
4. A 20' utility easement runs along the border between Tracts 2 and 3.
5. A sewer lift station easement is on Tract 5.
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 UTILITIES | | Electricity: | Upper Cumberland Electric Membership Corporation
| | Water: | City of Baxter
| Wastewater:
| Sewer and water is available for Tracts 1-5 from the City of Baxter. Sewer tap fees are $1200 for a 4" sewer line connection. Water tap fees are $1200 for a 3/4" water line connection. As Tract 9 is not in the City of Baxter, sewer and water are not currently available. The purchaser would need to make arrangements to have the City of Baxter annex the property to allow for access to the city's sewer and water systems.
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TAXES
| County Tax ID:
| Tract 1: 056A A 001.00
Tract 2: 056A A 002.00
Tract 3: 056A A 003.00
Tract 4: 056A A 004.00
Tract 5: 056A A 005.00
Tract 9: 056 131.01
| 2009 Taxes:
| Tract 1: $132
Tract 2: $132
Tract 3: $132
Tract 4: $132
Tract 5: $132
Tract 9: $132.69
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Terms and Conditions| 1. | Auction Procedure: The auctioneer shall offer the property to all registered bidders. Bidders may register by agreeing in writing to be bound by these real estate auction terms and conditions.
| 2.
| Agreement of Purchase and Sale: The purchaser shall execute an agreement of purchase and sale, in the form provided by the auctioneer, without modification, immediately after being declared the high bidder. | 3.
| Absolute Auction: The property will sell to the highest bidder, regardless of price. | 4.
| Deposit: The purchaser shall submit a nonrefundable deposit to the appointed escrow agent in the amount of 15% of the purchase price immediately after being declared the high bidder. | 5.
| Closing: The balance of the purchase price shall be paid at or before closing. Closing shall take place on or before April 2, 2010. The escrow agent will schedule and conduct closing. | 6.
| Escrow Agent: The deposit, earnest and purchase monies in respect of the property shall be paid to and deposited with Integrity Title & Escrow, LLC., David Moore, Contact. 931-520-0404. 380 S. Lowe Ave. Suite D-1, Cookeville, TN 38501.
| 7.
| Deed: Sellers shall provide a warranty deed. | 8.
| Title Insurance: Sellers shall provide an owner's title insurance policy in the amount of the purchase price. | 9.
| Closing Costs: At closing, Seller shall pay for half of the escrow and closing fees,all of the costs for preparation of all documents to convey the property and the entire premium for the owner's policy of title insurance. At closing, purchaser shall pay for half of the escrow and closing fees,any and all recording fees, and all other sale, financing or closing fees as required. Taxes shall be prorated to the date of closing. | 10.
| Cash Sale: This is a cash sale and is not contingent on purchaser's ability to obtain financing. | 11.
| Possession: Purchaser will receive possession at closing. | 12.
| As-Is Sale: The Purchaser shall accept the property in an as-is condition with all faults as of the closing date and the purchaser shall specifically agree that the seller has not and does not make any representations or warranties of any kind whatsoever, expressed or implied, to the purchaser regarding the property or any improvements thereon. The property is selling subject to anything an accurate survey or personal inspection of the property may reveal, including any existing rights-of-way, easements or claims to easements, encroachments, rights or claims of parties in possession, restrictive covenants and easements, flood zones, zoning or subdivision regulations, building codes, governmental agencies regulations, environmental conditions,lead-based paint, asbestos, radon gas, hazardous materials, any mineral rights, water rights, riparian or littoral rights, and reservations or conveyances, if any. The purchaser shall have satisfied himself as to the location and condition of the property, and all descriptions thereof, before bidding. All information contained in the brochure and all promotional materials, including, but not limited to,square footages, acreage, dimensions, maps, taxes, etc., was provided by the seller and is believed to be correct; however, neither the seller nor the auctioneer makes any guarantee or warranty as to the accuracy or completeness of such information. | 13.
| Easements: Sale of the property is subject to any and all easements of record. | 14.
| No New Survey: The property will be conveyed according to the existing legal description. | 15.
| Personal Property: No personal property shall be conveyed with the property unless specifically included in the agreement of purchase and sale. | 16.
| Agency: McLemore Auction Company, LLC and its representatives are exclusive agents of the seller and are agents of no other party to this transaction. | 17.
| Equal Opportunity Clause: All bidding is open to the public. The property is available to qualified purchasers without regard to a prospective purchaser's race, color, religion, sex, familial status, national origin, or physical handicap. | 18.
| Announcements: All announcements made on auction day supersede any prior oral or printed statements. | 19.
| Miscellaneous: All decisions of the auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction. Seller reserves the right to deny any person admittance to the auction or expel anyone from the auction who attempts to disrupt it.
| 20.
| Owners: Development Opportunities, Inc.
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DirectionsNashville Highway & Dyer Ridge Road, Baxter, TN 38544 (Baxter, TN)For directions from your location click here and then follow the instructions.
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