Property To Be Sold:
1301 & 1305 S Rock Island, El Reno
Shown By Appointment Only: Contact Glen Musgrove c/o BancFirst @ (405) 262-6577 or (405) 345-9345
Approx. 1,695 SF Quonset Style building. Setting on Approx. 0.170 acres MOL. This location has been used as a heavy diesel truck and heavy equipment mechanic and repair shop in the past.
Approx. 5,173 SF Metal Shop Building with Approx. 1,166 SF consisting of an office space plus a bathroom. Setting on Approx. 1.50 Acres MOL. The office space is improved with drywall and carpet. There are reportedly several leaks on the roof and sidewalls. There is no built in heating system in this building.
City Utilities Are Available
The Canadian County Assessor carries the Properties under a single parcel ID No. as follows: 0209999-923162-000002. The Properties are comprised of 3 tracts. See Legal Description.
A tract of land in the Northwest Quarter (NW/4) of Section Sixteen (16), Township Twelve (12) North, Range Seven (7) West of the Indian Meridian, Canadian County, Oklahoma, bounded and described as follows, to wit: Beginning at a point on the South line of the public road along the Section line between Sections 9 and 16, Township Twelve (12) North, Range Seven (7) West, of I.M., where said South line of the public road intersects the Southwest right-of-way line of the Northwest leg of the Wye of the Oklahoma Railway Company, thence Southeasterly along said right-of-way a distance of 129.7 feet; thence on a 15 degree curve to the right along said right-of-way a distance of 616.18 feet to a point; thence in a Northwesterly direction a distance of 578.4 feet to a point; thence North and making an angle to the right with the last described course 30 degrees 47′ a distance of 56.7 feet to a point, said point being on the South line of the public road aforesaid; thence East a distance of 1.45 feet to the place of beginning, containing 1 ½ acres, more or less, LESS, that strip or parcel of land heretofore condemned and purchased by the State of Oklahoma for highway purposes, which is described as follows: Beginning at a point 33 feet South of the North line and 648.3 feet East of the West line of said NW/4; thence due East 11.3 feet to a point on the West right-of-way line of the Oklahoma Railway Company; thence Southeasterly along said railway right-of-way line a distance of 122 feet; thence South 23 degrees 32′ East a distance of 477.2 feet; thence North 66 degrees 28′ East a distance of 15 feet; thence South 23 degrees 32′ East 4.5 feet to a point on the Westerly right-of-way line of Oklahoma Railway Company, thence Southwesterly along said railway right-of-way line 76 feet; thence North 31 degrees 27′ West 568.4 feet; thence Due North 67.5 feet to the point of beginning
AND
A parcel of land in the Northwest Quarter of Section Sixteen (16), Township Twelve (12) North, Range Seven (7) West in the City of El Reno, Canadian County, Oklahoma, described as follows: Commencing at a point 725.6 feet East and 33.0 feet South of the Northwest Corner of the Northwest Quarter of said Section Sixteen (16); thence South 23 degrees 32′ East a distance of 42.0 feet to a line parallel with and 50 feet Westerly of the centerline of the West leg of the Chicago, Rock Island and Pacific Railroad Company’s Wye track; thence Southeasterly along said parallel line 155.0 feet to the point of beginning; thence continuing southerly along said parallel line 444.2 feet; thence South 23 degrees 32′ East a distance of 70.0 feet to the centerline of the West leg of said wye tract; thence Northerly along said centerline 560.7 feet to a point intersected by a line perpendicular to the point of beginning, thence Southwesterly along said perpendicular line 50.0 feet to the point of beginning
AND
A part of the Northwest Quarter (NW/4) of Section Sixteen (16), Township Twelve (12) North, Range Seven (7) West of the Indian Meridian, Canadian County, Oklahoma, more particularly described as follows: Beginning at a point 725.6 feet East and 33.0 feet South of the Northwest corner of the NW/4 of said Section 16; Thence South 23 degrees 32′ East a distance of 42.0 feet to a line parallel with and 50 feet Westerly of the centerline of the West leg of the Chicago, Rock Island and Pacific Railroad Company’s wye tract; Thence Southeasterly along said parallel line a distance of 155.0 feet to a point 884.2 feet East and 134 feet South of the Northwest corner of the NW/4 of said Section 16; Thence Northeasterly at right angles a distance of 50 feet to the centerline of said Railroad Company’s wye track; Thence Northwesterly along said centerline a distance of 150 feet, more or less, to a point on a line 33.0 feet Southerly of and parallel with the North line of said Section 16; Thence Westerly along said parallel line a distance of 50 feet point of beginning.
To be determined by Buyer. Information available indicates the zoning to be correct for the Properties current use.
2014 – $1,020.00
The Properties do not appear to be located within a FEMA identified Flood Hazard Area. See FEMA Map Study Area Map #40017CO240 H
The Properties are being foreclosed pursuant to Oklahoma’s Power of Sale Mortgage Foreclosure Act. The non-judicial foreclosure sale will be conducted as an auction with sale to the highest bidder pursuant to the terms of the Real Estate Purchase Contract. The terms of the Real Estate Purchase Contract are not negotiable.
a. 5% down to be placed in escrow on day of sale with balance due at closing. Closing shall occur within 30 days of sale. 10% buyers premium will apply.
b. Seller shall provide Buyer an up to date Title Commitment for Owner’s Title Policy within 14 days of sale which shall show that marketable title will vest in Buyer upon Seller’s delivery of a Mortgagee’s Deed to Buyer.
c. Buyer may submit written objections to the Title Commitment concerning marketability of the title within 14 days of receipt.
d. Seller may, but shall not be obligated to remedy Buyer’s title objections.
e. In the event Seller does not remedy title objections, Buyer’s down payment shall be returned and the contract shall be canceled.
f. Title shall be conveyed by a Mortgagee’s Deed without warranty of title.
g. Seller and Buyer shall each pay 50% of the costs of an Owner’s Title Policy, to the extent of the purchase price.
h. Seller shall pay taxes current through the closing date.
i. Property is sold AS IS, WHERE IS, WITH ALL FAULTS WITHOUT ANY WARRANTY OF ANY NATURE AS TO THE CONDITION OF THE PROPERTY OR THE BUILDINGS.
j. Seller is not the owner of the Property. Seller will be conveying the Property by way of a Mortgagee’s Deed at the completion of foreclosure proceedings undertaken pursuant to Oklahoma’s Power of Sale Mortgage Foreclosure Act, 46 O.S. § 40, et seq. No Warranty Deed shall be provided to Buyer. Buyer’s title protection, shall be solely in the form of an Owner’s Title Policy which shall be paid for by Seller.
