Tuesday, October 26 • 9:00 am - 1:00 pm
Tuesday, November 9 • 9:00 am - 1:00 pm
Other Times by Appointment
Non-Performing Loan secured by 14.1 MW Power Plant, Support Equipment and 132.46 acres of Land
The Facility was Originally Designed and Built by General Electric in 1985 and was Completely Re-Built in 2009. The Plant is Wood Waste Fueled and has Multiple Conveyors Feeding a Turbine Boiler. The Facility Interconnects with a Duke Energy Substation and Power was Sold to Seminole Electric Cooperative.
Location: Telogia, Florida (Approx. 45 Minutes S.W. of Tallahassee)
Total Site Size: 132.46 Acres
Technology: E. Keeler Boiler 150,000 PPH, Total Heat Input: 230 Million BTU, Steam Turbine
Fuels: Biomass, Wood Chips, Mill Residues, Hog Fuel, Peanut Hulls
In Service Year: 1985, Upgraded in 1995 with Electrostatic Precipitator, Replacing a Venturi Wet Scrubber, 2009 Boiler Rebuilt.
Capacity: 14.1 MW
Interconnections: 5.28 Miles of 69kV Transmission Lines
Electrical Customer: Seminole Electric Cooperative, Inc. (No Current Electric Power Purchase & Sale Agreement is in Place-Plant is Off-Line)
Site History: Originally Owned/Operated by Reichold Chemical in the 1960's
Utilities: Well, Septic
Rail Spur: A&N Line, Apalachicola Northern
View Drone Video of the site:
The Plant is Now Idle and the Note Will be SOLD During this Sealed Bid Note Sale Auction.
For additional information, please complete this release.
Auction Will Be Sealed Bid Only, No Live Auction Will Take Place at the Property
Broker Participation is welcome but not required. A 2% commission will be paid to the licensed broker who, at the time of registration, registers the bidder who pays for and settles for the note/mortgage. A broker buying on his/her behalf, or on behalf of any business entity in which he/she holds an interest, is not entitled to a commission.
Sealed Bid Offers must be received by Wednesday, November 17 at 4 pm, accompanied by a $40,000 earnest money deposit (cashier's check or wire) payable to Independence Bank and a completed Sealed Bid Form. Bids must be sent via a traceable courier to Maas Companies Inc at 6923 10 Ave SW, Rochester, MN 55902. Sealed Bids are binding and non-revocable. All Bids Subject to Sellers acceptance on or before Thursday November, 18 at 4:00pm ET.
An additional deposit is due within 48 hours bringing the total monies in escrow to 20% of the purchase price. Balance due at closing within 10 days. Howard Toland is attorney overseeing the closing. Deposit monies are earnest monies and non-refundable. Deposits of non-winning bidders will be returned immediately following the auction.
Selling AS-IS, WHERE-IS WITH NO WARRANTIES, GUARANTEES, EXPRESS OR IMPLIED. All sales are final.
See Bidder Kit for complete terms.
In all transactions, Maas Companies is acting as an Agent for the Seller. Buyers are urged to inspect items prior to purchase. Seller and Auctioneer are not responsible for items. All information received from reliable sources believed to be correct but not guaranteed by the Auction Company.
Diane Maas, President, Maas Companies Inc AB2862
Ronald R. Kirby AU3991