Victory Avenue , Jamaica, IA 50128(Guthrie County)

Of the total 183.65 acres m/l in this complete portfolio, the McDermott family farmland includes 177.36 FSA cropland acres with an estimated 166.16 acres currently in row crop production carrying a CSR2 rating in the high-80's and low-90's. There are 11.20 acres currently enrolled into one Conservation Reserve Program (CRP) contract that expires in 2026. Located in a strong farming community near several competing grain markets including both grain elevators and ethanol plants, these four highly-tillable tracts of farmland would make for a great add-on unit to an existing farm operation or investment-grade quality land purchase. The farmland tracts are leased for the 2022 cropping season and the Buyer/s will assume the current farm lease and receive a credit for the first half of the 2022 cash rent payments at closing.

Tract 1: 40 Acres M/L with 38.71 FSA cropland acres carrying a CSR2 value of 89.4.

Tract 2: 78 Acres M/L with 76.58 FSA cropland acres. The planted acres for 2021 (per FSA-578 form) are 64.40 acres with a CSR2 rating of 90.1. There are an additional 11.20 acres enrolled into CRP CP 27/28 (Farmable Wetlands) until 2026 with an annual payment of $4,542 ($405.51/acre). This tract also contains a 40' x 60' steel utility building located on the west side of the tract.

Tract 3: 40 Acres M/L with an estimated 38 FSA cropland acres and a CSR2 value of 89.3.

Tract 4: 25.65 Acres M/L with an estimated 24.25 FSA cropland acres carrying a CSR2 soil rating of 89.1.

The four 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 four 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 all tracts for their high bid. "Buyer's Choice" auctioning will continue until all four 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.

AUCTION DETAILS

Guthrie County, Iowa Land Auction

183.65 Acres M/L

Thursday, March 31st, 2022 at 10:00 AM

Seller:

Margaret Jeanne McDermott 2009 Revocable Trust

Auction Location:

Jamaica Community Center

NW Corner of Main Street & Van Nest Street

Jamaica, Iowa 50128

Online Bidding: Contact Listing Agent or visit our website.

Auction Method: The four tracts will be offered via Public Auction and will take place at 10:00 PM at the Jamaica Community Center, Jamaica, Iowa. All farmland 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 any of the tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all four farmland 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.

Tract 1: 40 Acres M/L

Tract 2: 78 Acres M/L

Tract 3: 40 Acres M/L

Tract 4: 25.65 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 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 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, May 6th, 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 farm is leased for the 2022 cropping season. The Buyer will assume the current farm lease and receive a credit for the first half of the 2022 cash rent at closing.

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