West 102nd Street North , Colfax, IA 50054(Jasper County)

Tract 2: 116.35 acres m/l with 108.15 FSA cropland acres carrying a CSR2 value of 68.3 and a 17,000 bushel grain bin built in 1979. The grain bin also includes a dryer, fan, and attached staircase to access the top of the grain bin.

Tract 3: House and Acreage site locally known as 4033 W. 102nd Street N. Colfax, Iowa. The acreage site includes approximately 2.15 acres m/l and a single family home built in 1996. Other features include 1,200 sq. ft., three bedrooms, two-and-a-half-bathrooms, and an outdoor patio deck and two car attached garage.

*Base acres and FSA acres are subject to reconstitution by the Jasper County FSA Office at the completion of the sale.

Meticulous management and conservation practices have been maintained with established, well-maintained waterways and contour farming by the farm tenant. Both farmland tracts have great accessibility with road frontage allowing entry from several different county roads and paved State Hwy 117. Both of these farmland tracts would make for great add-on units to an existing farm operation or investment grade quality land purchase. Several competing grain marketing options located nearby including both ethanol plants and a variety of grain elevators/cooperatives. Further, the property lies in Sections 13 and 18 of Poweshiek Township.

The land will be sold as three individual tracts. Tracts 1 & 2 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 both tracts for their high bid. "Buyer's Choice" auctioning will continue until both tillable tracts have been purchased and removed from the auction. The third tract (House and Acreage site) will be sold as a total purchase price. All tracts will not be offered in their entirety at the conclusion the auction.

Legal Description

Tract 1 (119.50 Acres M/L): The Northwest One-Quarter of the Northwest One-Quarter (NW 1/4 NW 1/4), the Southwest 23.5 acres of the Southwest One-Quarter of the Northwest One-Quarter and Northeast 16.5 acres of the South Southwest One-Quarter of the Northwest One-Quarter (SW 1/4 NW 1/4), and the Northwest One-Quarter of the Southwest One-Quarter (NW 1/4 SW 1/4) of Section Eighteen (18), Township Eighty-one (81), Range Twenty-one (21) West of the 5th P.M., Jasper County, Iowa. Exact legal description to be taken from the Abstract.

Tract 2 (116.35 Acres M/L): The North One-Half of the Southwest One-Quarter (N 1/2 SW 1/4) and Northwest One-Quarter of the Southeast One-Quarter (NW1/4 SE 1/4), EXCEPT Part of "Parcel A" and EXCEPT one-half acre cemetery site, of Section Thirteen (13), Township Eighty-one (81), Range Twenty-one (21) West of the 5th P.M., Jasper County, Iowa. Exact legal description to be taken from the Abstract.

Tract 3 (2.15 Acres M/L): Part of "Parcel A" located in the Northwest One-Quarter of the Southeast One-Quarter (NW1/4 SE 1/4) of Section Thirteen (13), Township Eighty-one (81), Range Twenty-one (21) West of the 5th P.M., Jasper County, Iowa. Exact legal description to be taken from the Abstract.

AUCTION DETAILS

Jasper County Land Auction

238 Acres M/L

Offered in Three Separate Tracts

Tuesday, September 22, 2020

10:00 AM

Seller: Estate of Thomas Phelan

Auction Location:

Jasper County Fairgrounds, Exhibit Hall

359 N Walnut St

Colfax, IA 50054

Auction Method: The land will be sold as three individual tracts. Tracts 1 & 2 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 both tracts for their high bid. "Buyer's Choice" auctioning will continue until both tillable tracts have been purchased and removed from the auction. The third tract (House and Acreage site) will be sold as a total purchase price. All tracts will not be offered in their entirety at the conclusion the auction.

Farm Program Information: Farm Program Information is provided by the Jasper 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 Jasper 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, November 6, 2020. 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 farm will be given At Closing, Subject to Farm Tenant's Rights.

Farm Lease: There is a farm lease in place for the 2020 farm year for both the tillable acres and the acreage site.

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.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction.

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 for Tracts 1 & 2 and total purchase price for Tract 3. 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.