330th Street , Jamaica, IA 50125(Greene County)

Tract 1: 90 acres m/l with 86.12 FSA cropland acres carrying a CSR2 soil rating of 83.9. There are currently 66.12 being farmed with a CSR2 soil rating of 85 with an additional 20 acres enrolled into CRP CP-27/28 (Farmable Wetlands Program) through 2026 with an annual payment of $7,080 ($353.99/acre).

Tract 2: 160 acres m/l with 150.98 FSA cropland acres carrying a CSR2 soil rating of 78.8. Currently, 141.43 acres are being farmed with 7.90 acres enrolled in CRP CP-8A (Grass Waterways) until 2025 with an annual payment of $2,860 ($362/acre). This tract also contains five steel grain bins (nearly 9,000-bushel dryer bin built in 1981, 3,660-bushel grain bin built in 1960, and three 3,250-bushel grain bins built in 1960) with approximately 22,500-bushel capacity.

Tract 3: 41.21 acres m/l with 18.30 FSA Cropland acres carrying a CSR2 soil rating of 82.6. The tillable acres are enrolled in CRP CP38E-25 (Rare & Declining Habitat - Prairie Restoration) through 2035 and an annual payment of $3,243 (177.22/acre).

Tract 4: 105.17 acres m/l with 102.31 FSA cropland acres carrying a CSR2 soil rating of 79.2. There are currently 98.91 acres being farmed with an additional 3.40 acres enrolled in the CRP CP-8A & 25 (Grass Waterways & Filter Strips) until 2025 with an annual payment of $1,216 ($357.60/acre). In addition, there are two steel grain bins in an estimated 8,000-bushel capacity.

Tract 5: 40 acres m/l with 37.16 FSA cropland acres carrying a CSR2 soil rating of 77.5. Currently, there are 35.02 acres being farmed on this tract.

Tract 6: 45.13 acres m/l with an estimated 42.96 FSA cropland acres boasting a CSR2 soil rating of 87.4. There are 38.66 acres being farmed with an additional 4.30 acres enrolled in the CRP CP-8A (Grass Waterways) through 2029 with an annual payment of $761 ($177/acre).

The six tracts will be offered via Public Auction and will take place at 10:00 AM at the Jamaica Community Center, NW Corner of Main Street and Van Nest Street, Jamaica, Iowa 50128. The farmland tracts will be sold as six 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 all six tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Farm Details

Est. FSA Cropland Acres: 437.83

Est. Effective Cropland Acres: 382.15

Base Acres: 372.0

Corn: 272.30 base acres with a PLC Yield of 148

Soybeans: 99.7 base acres with a PLC Yield of 43

Farm is enrolled in ARC-CO for Corn & Soybeans

*Farm program Information is for the six tracts. Base Acres will be adjusted per the default method when the Farm is reconstituted by the Greene & Guthrie County FSA offices.

AUCTION DETAILS

Greene & Guthrie County Land Auction

481.51 Acres M/L

Offered in Six Tracts

Thursday, November 4th, 2021

10:00 AM

Seller:

Meinecke Farms Corporation

Auction Location:

Jamaica Community Center

NW Corner of Main Street & Van Nest Street

Jamaica, Iowa 50128

Auction Method: All 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, any or all tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all six tracts have been purchased. Tracts will not be offered in their entirety or combined at the conclusion of the auction.

Tract 1: 90 Acres M/L

Tract 2: 160 Acres M/L

Tract 3: 41.21 Acres M/L

Tract 4: 105.17 Acres M/L

Tract 5: 40 Acres M/L

Tract 6: 45.13 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 Greene & Guthrie 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 Greene & Guthrie 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 Friday, December 17th, 2021. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer.

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

Farm Lease: The farmland has been owner operated and farming rights for the 2022 farm year will be available.

CRP Contracts: CRP contracts will be conveyed to the Buyer/s At Closing. Seller will retain all CRP payments payable in 2021 and Buyer will receive the 2022 and beyond payments.

Contract & Title: Immediately upon 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. 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. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made 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 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 abstract.