1035 W. Kingshighway, Paragould
Bid packages may be picked up at any Farm Credit Midsouth branch. Submit sealed bids by 10 a.m. on August 15, 2019 to Waddell, Cole & Jones, PLLC, 310 East St, Ste A, Jonesboro, AR 72401. The three highest bidders will be notified to continue the bidding process.
NOTICE OF INVITATION TO PARTICIPATE IN BID AUCTION FARM CREDIT MIDSOUTH OFFICE BUILDING
1035 W. KINGSHIGHWAY, PARAGOULD, AR 72450
INVITATION TO PARTICIPATE IN BID AUCTION
A two round bid auction for the purchase of the real property described herein will occur at the date, time and place and according to the manner set forth herein as follows:
Seller: Farm Credit Midsouth, FLCA
Date/Time: August 15th, 2019 at 10:00 a.m. CST
Location of Bid Opening: Waddell, Cole & Jones, PLLC, Attn: Ralph W. Waddell, 310 East Street, Suite A, Jonesboro, AR 72401
Description of Property Offered for Sale (the “Property”): Lot 4, Block 1 of L. C. Thompson and Company’s Addition to the City of Paragould, Arkansas, also known as Thompson and Cox’s Addition to the City of Paragould, Arkansas, including all buildings and improvements located thereon. a.k.a. 1035 W. Kingshighway, Paragould, AR 72450
All bids submitted must be in compliance with, the Special Terms of Sale, Instructions to Bidders, General Terms of Sale, and Bid Forms and Acceptance, all of which are attached hereto and by this reference made a part hereof.
Two Round Procedure: The bid auction will consist of two rounds. The first bid round shall consist of the opening of all sealed bids submitted by the “Sealed Bid Deadline.” Bid opening for the first round shall begin at 10 a.m. on August 15th, 2019. Only the three highest bidders from the first round shall continue to the second round. All bids that fail to pass to the second round shall be publicly announced. In the second round, the three highest bidders from the first round shall be given the opportunity to increase their bid by open and competitive bidding. The second round participants may only increase their first round bid and may not decrease their bids in the second round. The real Property will be sold in the second round to the highest bidder.
Submission of Sealed Bid For First Round: Sealed Bids for the first round must be received in the office of Waddell, Cole & Jones, PLLC, Attention: Ralph W. Waddell, no later than 10 a.m., August 15th, 2019 (the “Sealed Bid Deadline”).
Bid Deposit: $1,000.00 deposit shall be required from the successful bidder in the second round. The deposit shall be by Cashier’s check or certified check only which must be made payable to the order of Waddell, Cole & Jones, PLLC Trust Account.
Terms: All cash; “As-is/Where-is”. Bid Deposit is due at time of successful bid. No offer will be accepted without a Bid Deposit. Balance of purchase price is due upon closing. The successful bidder must be prepared to close within thirty (30) days following notification of bid date.
Inspection: The Property may be inspected during regular business hours upon reasonable notice to Seller. To arrange for an inspection, please contact Patrick H. Lenderman at 870-236-8525 or Mike Williams at 870-336-5404.