270th Street , Lenox, IA 50851(Adams County)

This Adams and Taylor County, Iowa farmland portfolio will be offered in three tracts. The auction will take place at the Corning Community Center in Corning, Iowa. The farms will be offered in 3 individual tracts and will not be combined at any point during the auction. These farms have been in the Naven family for many years. The family has done an outstanding job of maintaining these high-quality farms and it is our pleasure to have the opportunity to present them to the public. Each of the tracts offers its unique opportunity as not only an investment but also as an addition to any existing operation.

AUCTION DETAILS

Adams & Taylor County, Iowa Land Auction

200 Acres M/L (Offered in three tracts)

Thursday, September 21st, 2023 at 10:00 AM

Auction Location:

Corning Community Center

601 6th Street

Corning, Iowa 50841

Seller: Edward and Margeleen Naven Estate

Online Bidding: Register to bid on our website. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide a slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Auction Method: The three tracts will be offered via Public Auction on a per-acre basis and will take place at 10:00 AM at the Corning Community Center in Corning, Iowa. Tract 1, Tract 2, and Tract 3 will be offered separately and will not be combined at any point during the auction. Tracts will not be offered in their entirety or combined after the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Tract 1: 40 Acres M/L

Tract 2: 40 Acres M/L

Tract 3: 120 Acres M/L

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction. Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

Farm Program Information: Farm Program Information is provided by the Adams and Taylor County Farm Service Agency. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Adams & Taylor County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held in Watson and Ryan P.L.C Trust Account.

Closing: Closing will occur on or before Monday, November 20, 2023. The closing attorney will be Kyle Marcum with the Law Firm of Watson and Ryan P.L.C. The balance of the purchase price will be payable at closing in the form of cash, guaranteed checks, or wire transfers.

Possession: Possession of the land will be given at Closing, Subject to Tenant's Rights.

Farm Lease: The current farm lease has been terminated before September 1st and will be open for the 2024 crop year.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer financing.

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary.

Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an As is Where is basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Seller. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide a slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her investigation of the property before bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from the abstract.