137th Street , Earlham, IA 50072(Dallas County)

Land ownership opportunities of this caliber and location very seldom come to the open market. These high-quality tracts would make a great addition to an existing farming operation, an investment-grade quality land purchase as the Des Moines Metro continues to push west into Dallas and Madison Counties, recreational and hunting property, or an executive-style building site for your dream home. These tracts are all located within close proximity to excellent school systems, towns, and endless amenities in Central Iowa.

Tract 1: 37.75 acres m/l with 28.89 FSA cropland acres, carrying a CSR2 value of 85.9.

Tract 2: 122 acres m/l (to be surveyed and conveyed) with an estimated 113.71 FSA cropland acres, carrying a CSR2 value of 84.6.

Tract 3: 278 acres m/l with an estimated 101.22 FSA cropland acres, carrying a CSR2 value of 70.5.

The three tracts will be offered individually on a price-per-acre basis using the "Traditional Auction" method. The Public Auction will be held on Wednesday, June 12th, 2024, at 10:00 AM CST at the Veterans Reception Center, 910 Main Street, Van Meter, Iowa. The sale can also be viewed through a Virtual Online Auction option and online bidding will be available. The Dallas County tract is located just southeast of Van Meter, Iowa, and southwest of Booneville, Iowa in Section 36 of Van Meter Township. The Madison County tracts are located just southeast of Earlham, Iowa in Section 29 of Madison Township.

Auction Details

A. Irlene Johnson Estate Farmland Auction

437.75 Acres M/L

Offered in Three Tracts

Wednesday, June 12th, 2024 at 10:00 AM CST

Seller: A. Irlene Johnson Estate

Representing Attorney: Jana Weiler, Dentons, Des Moines, Iowa

Executor: Matt Spading, Iowa State Bank - Trust & Wealth Management, Urbandale, Iowa

Auction Location:

Veterans Reception Center

910 Main Street

Van Meter, IA 50261

Tract 1: 37.75 acres m/l

Tract 2: 122 acres m/l (to be surveyed and conveyed)

Tract 3: 278 acres m/l

Online Bidding: Register to 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 portfolio will be sold as three individual tracts using the "Traditional Auction" method on a price per acre basis. Tracts will not be offered in their entirety after the auction. The tracts will be sold via Public Auction on Wednesday, June 12th, 2024 at 10:00 AM at the Veterans Reception Center in Van Meter, Iowa. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

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.

Agency: 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 Dallas 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 Dallas and/or Madison County FSA and NRCS offices. Winning Bidder(s) should note that all Farm Program Information on these tracts is currently housed at the Dallas County Farm Service Agency.

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 the Peoples Company Trust Account.

Closing: Closing will occur on or before Wednesday, July 24th, 2024. 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 the Tenant's Rights.

Farm Lease: The tillable acres on all of the tracts are leased for the 2024 crop year. The Winning Bidder(s) will recieve a cash rent credit at closing in the amount of $6,270.60 for Tract 1, $22,742 for Tract 2, and $18,757.40 for Tract 3. A lease termination will be provided prior to closing and all of the tracts will be open for the 2025 crop year.

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

Financing: The purchasers obligation to purchase the Property is unconditional and is not contingent upon the Purchaser obtaining financing. Any financial arrangements are to have been made before bidding at the auction. By the mere act of bidding, the bidder makes a representation and warrants that the bidder has the present ability to pay the bid price and fulfill the terms and conditions provided in the Contract.

Septic Systems: Per Iowa Code 445B, the Seller is exempt from the Septic System Inspection Requirement and the septic systems servicing the dwellings on Tract 1 and Tract 3 are in as-is condition and no inspections, updates, or improvements will be made by the Seller.

Open Houses: There will be no open houses held to view the dwellings on Tracts 1 and 3. Potential Buyer's and/or Buyer's Agents are not permitted to enter either of the dwellings without prior approval from the Listing Agent(s). Interested parties should be aware of the potential presence of dangerous animals, including but not limited to rattlesnakes, in the dwelling on Tract 3.

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Seller. 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.

Surveys: A survey will be provided for Tract 2. The final acres for Tracts 2 and 3 are subject to slight change after the survey has been completed but prior to the auction. No additional surveying or staking will be provided by the Seller.

Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property will be sold 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 "Price Per Acre" amount. 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.