120th Street , Renwick, IA 50577(Humboldt County)

Tract 4 consists of 80 acres m/l with 76.68 FSA cropland acres carrying a CSR2 rating of 81.4.

Tract 5 consists of 80 acres m/l with 77.06 FSA cropland acres carrying a CSR2 rating of 59.2.

These tracts would make for an outstanding add-on unit to an existing farm operation, affordable tracts for a beginning farmer, or investment-grade quality land purchase. In addition, there are several competing grain marketing options that are located nearby, including ethanol plants combined with a variety of grain elevators to merchandise crops. Private tile has been installed on these farms with great drainage outlets available. The farm lease has been terminated and farming rights will be available for the 2023 growing season.

The five tracts will be offered via Public Auction and will take place at 10:00 AM at the Renwick Community Center in Renwick, Iowa. The farmland tracts will be sold as five 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 five 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

Humboldt County Land Auction

390.90 Acres M/L

Friday, November 18th, 2022 at 10:00 AM

Representing Attorney: Michael E. Gabor - Buchanan, Bibler, Gabor & Meis Law Firm in Algona, Iowa

Auction Location:

Renwick Community Center

511 Main Street

Renwick, Iowa 50577

Online Bidding: Register online. 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: The tracts will be offered via Public Auction and will take place at 10:00 AM at the Renwick Community Center in Renwick, Iowa. 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 all of the tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all five 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: 80 Acres M/L

Tract 2: 75.90 Acres M/L

Tract 3: 75 Acres M/L

Tract 4: 80 Acres M/L

Tract 5: 80 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 Humboldt 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 Humboldt 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 Buchanan Law Trust Account.

Closing: Tracts 1 & 2 will close on or before Thursday, December 22nd, 2022. Tracts 3, 4, and 5 will close on or before Friday, January 6th, 2023. 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 lease has been terminated and is open for the 2023 cropping 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.

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.