110th Street , Audubon, IA 50025(Audubon County)

Fields are determined as non-wetland, which provides an opportunity to tile in the future. There is natural drainage across the farmland tracts that facilitates water transfer from the southwest corner to the northeast corner of the farm, which ultimately flows into the East Nishnabotna River. The farm will be available for the upcoming 2024 crop season and early possession will be granted upon the earnest money deposit and copy of liability insurance.

The Heartland Divide Wind II Wind Farm is located just to the south of the farm with an active 69KV transmission line (Max Capacity: 150 MW) that runs immediately adjacent to the western property boundary through an ingress-egress easement of both tracts. There is an option and collection easement on the farm, please contact the Agent for additional details.

These tracts will be offered via a live Public Auction that will take place at 10:00 AM on Friday, February 23rd, 2024, at the Templeton Center - Community Room, 202 S 5th Avenue in Templeton, Iowa. The land will be sold as two individual tracts using the "Buyers Choice" auction method on a price per acre basis and the high bidder can take, in any order, one or both tracts for their high bid. "Buyer's Choice" auctioning will continue until both tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety after the auction. This auction can also be viewed through the Peoples Company mobile bidding app and online bidding will be available. This property is located within the northeast quarter of Section 9 in Cameron Township, Audubon County, Iowa.

Auction Details

Audubon County, Iowa Land Auction

160 Acres M/L, offered as two tracts

Friday, February 23rd, 2024 at 10:00 AM

Auction Location:

Templeton Center - Community Room

202 S 5th Avenue

Templeton, Iowa 51463

Sellers: Peterson Heirs, LLC

Representing Attorney: Colin L. Hendricks, Hendricks Law Office, 408 5th Street, Rockwell City, Iowa 50579

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.

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: Both tracts will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, one or both tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until both tracts have been purchased. Tracts will not be offered in their entirety or combined at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Tract 1: 80 Acres M/l

Tract 2: 80 Acres M/L

Financing: The buyer's obligation to purchase the Real Estate is unconditional and is not contingent upon the Buyer obtaining financing. All financial arrangements are to have been made before bidding at the auction. By the mere act of bidding, the bidder makes the representation and warrants that the bidder has the present ability to pay the bid price and fulfill the Contract.

Farm Program Information: Farm Program Information is provided by the Audubon 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 Audubon 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 Peoples Companys Trust Account.

Closing: Closing will occur on or before Tuesday, April 16th, 2024. The balance of the purchase price will be payable at closing in the form of guaranteed check/s or wire transfer/s. With respect to the timing of the Seller and successful Buyer in fulfilling the obligations set forth in the Real Estate Sale and Purchase Agreement, time is of the essence.

Possession: Possession of the land will be given At Closing. Early possession may be granted upon deposit of Earnest Money and copy of liability insurance.

Farm Lease: Farming rights for the 2024 cropping year will be available.

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.

Survey: Should each farmland tract sell to separate Buyers, Sellers will provide survey at their expense to divide the Quarter Section based on the assessor parcel boundaries. Acres will not be adjusted from the determined survey. No additional surveying or staking will be provided by the Sellers.

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.

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.