310th Avenue , Hamburg, IA 51640(Fremont County)

This land will be sold in 8 individual tracts using the buyer's choice method of marketing. This sizable offering includes both high-quality tillable land and exceptional building site opportunities. The production tracts range from 84% to 95% tillable and would make for an outstanding add-on unit to an existing farm operation or investment-grade quality land purchase. In addition to the tillable tracts, there is an excellent building site with income-producing tillable acres, thick wooded draws, and large ponds. The tillable acres are well-maintained and are open for the 2023 cropping season.

A full survey will be completed by the seller prior to the auction and the final tract acres will change after the survey has been completed, prior to the auction. No additional surveying or staking will be provided by the Seller. Tracts 1-6 and 8 are located in Sections 1, 7, 12, and 13 of Madison Township. Tract 7 is located in Section 25 of Riverton Township, both in Fremont County, Iowa.

These 8 tracts will be offered via an Absolute Public Auction and will take place at 10:00 AM at the Elks Lodge in Shenandoah, located at 701 S Fremont St Shenandoah, IA 51601. The farmland tracts 1-7 will be sold using the Buyers Choice auction method on a price per acre basis, and the high bidder can take, in any order, one or multiple tracts for their high bid. The Buyers Choice auction method will continue until all tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion of the auction. Lastly after tracts 1-7 have been sold we will open the bidding for tract 8, the acreage tract on a whole dollar basis. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available. We hope to see you on December 15th, 2022 at the Elks Lodge. Please reach out to the listing agents for any questions.

A Survey of each tract is in progress. Final acre figures will be determined by survey and surveyed acres will be the multiplier for the day of the auction.

**An Open House will be held on December 2, 2022, from 2 pm to 4 pm for Tract 8.

AUCTION DETAILS

Absolute Fremont County Land Auction

1286.4 Acres M/L

Offered in Eight Tracts

Thursday, December 15th, 2022

10:00 AM

Seller:

Ware Family Farms

Auction Location:

Elks Lodge

701 S Fremont St

Shenandoah, IA 51601

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 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: Tracts one through seven 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, any or all tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all seven tracts have been purchased. Tracts will not be offered in their entirety or combined at the conclusion of the auction. When all seven tracts are selected we will open the bidding up for tract eight. Tract eight is the acreage tract and will be sold on a "Whole DollarBasis."

A Survey of each tract is in progress. Final acre figures will be determined by survey and surveyed acres will be the multiplier for the day of the auction.

Tract 1: 502.64 Acres M/L

Tract 2: 302.96 Acres M/L

Tract 3: 61.43 Acres M/L

Tract 4: 145.5 Acres M/L

Tract 5: 52.65 Acres M/L

Tract 6: 39.74 Acres M/L

Tract 7: 157.75 Acres M/L

Tract 8: 23.7 Acres M/L

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order 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 Fremont County Farm Service Agencies. 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 Fremont 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 the Settle Up Iowa Trust Account.

Closing: Closing will occur on or before Tuesday, January 31st, 2023. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer. The closing firm will be Settle Up Iowa.

Possession: Possession of the land will be given At Closing. Subject to tenant's rights.

Farm Lease: The farmland will be open for the 2023 farming season.

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.

Septic: On Tract 8 the current septic system is an older system. The buyer will be responsible for and pay all costs for the installation of a new septic system. Before the time of closing the buyer agrees to go to the Fremont County Environmental Services Office and sign a Binding Agreement for the Future Installation of a new septic system.

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 the figures stated within the marketing material. The buyer should perform his/her own investigation of the property prior to 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.