350th Street , Dexter, IA 50070(Guthrie County)

Of the 214.29 total acres m/l in this portfolio, the Gebbie Heritage LLC farmland includes 177.42 FSA cropland acres carrying above-county CSR2 ratings. The Guthrie County farmland tracts have been owned by the family since 1943 and Adair County farmland tract since 1968, marketing family ownership for 78 and 53 years. Located in a strong farming community near several competing grain markets including both grain elevators and ethanol plants, these three tillable, contiguous tracts of farmland would make for a great add-on unit to an existing farm operation or investment-grade quality land purchase. The farmland is located just 2 miles southwest of Dexter, Iowa, a mile south of White Pole Road and in Section 35 of Penn Township, Guthrie County & Section 1 of Lincoln Township, Adair County.

A single-family home and acreage site will be offered for sale and included in this auction for a buyer wanting to enjoy the countryside. This home can be viewed by contacting the listing agent, Matt Adams, or by attending the Open Houses on Sunday, December 5th from 1:00 PM to 4:00 PM and Thursday, December 9th from 4:00 PM to 7:00 PM.

Tract 1: 53.75 acres m/l with 51.98 FSA cropland acres carrying a CSR2 soil rating of 88.2.

Tract 2: 83.66 acres m/l with 77.53 FSA cropland acres carrying a CSR2 soil rating of 82.7.

Tract 3: 72.49 acres m/l with 47.91 FSA cropland acres carrying a CSR2 soil rating of 71.1.

Tract 4: Home and 4.39-Acre Acreage Site - A 1,168 Sq. Ft., single-family, ranch style home, built in 1976, with 3 bedrooms, 1 bath with a detached 22' x 16' car garage. Locally known as 3495 Zebra Avenue, Dexter, Iowa 50070, this acreage site also includes a 40' x 22' wood framed pole building, currently being used as a cattle shed, a 48' x 28' hog house, a 48' x 20' open-fronted, wood-framed pole barn, a 45' x 36' steel utility machine shed, and four steel grain bins with approximately 18,000-bushel capacity.

The four tracts will be offered via Public Auction and will take place at 10:00 AM at the Dexter Community Center (Roundhouse Building), 707 Dallas Street, Dexter, Iowa 50070. The farmland tracts will be sold as three 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 any of the tracts for their high bid. "Buyer's Choice" auctioning will continue until all three tracts have been purchased and removed from the auction. The acreage site (Tract 4) will be offered through a traditional auction as a total purchase price. 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.

AUCTION DETAILS

Guthrie & Adair County, Iowa Land Auction

214.29 Acres M/L

Friday, December 17th, 2021 at 10:00 AM

Seller: Gebbie Heritage LLC

Representing Attorney: Warren Varley, Varley Law Office, Stuart, Iowa

Auction Location:

Dexter Community Center (Roundhouse Building)

707 Dallas Street

Dexter, Iowa 50070

Online Bidding: Register to bid on our website.

Auction Method: The four tracts will be offered via Public Auction and will take place at 10:00 PM at the . The three farmland tracts (Tracts 1-3) 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 any of the tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all three farmland tracts have been purchased and removed from the auction. The acreage (Tract 4) will be offered through a traditional auction as a total purchase price. Tracts will not be offered in their entirety at the conclusion the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Tract 1: 53.75 Acres M/L

Tract 2: 83.66 Acres M/L

Tract 3: 72.49 Acres M/L

Tract 4: 4.39-Acre Acreage Site (to be surveyed)

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 Guthrie & Adair 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 Guthrie & Adair 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, February 4th, 2022. 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 farming rights are available for the 2022 cropping season.

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.

Surveys: A survey will be completed by the Seller for Tract 4. The acreage and surrounding tracts are subject to change 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 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.